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Slovakia to Increase Minimum Wage

Slovakia is set to increase the minimum wage from €380 to €405 per month at the beginning of 2016, an increase of 6.58%. 

Prime Minister, Robert Fico stated that the increase will encourage people who are on state assistance to go out and find work.

Unions, whilst welcoming the decision, were initially demanding an increase to €410 per month.

Employers were against any increase, claiming it will damage competitiveness and will act as a barrier to employment for those unskilled or with low qualifications. Some employer representatives claim the decision is purely political rather than a reflection on current economic development.

The decision by the government led by Robert Fico will help 113,000 workers in Slovakia. The government has promised there will be further increases in the minimum wage within two years, totalling about 15%.

Perhaps significantly, the increase on 1st January, will take the wage level over their Czech neighbours.

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