LISBON (Reuters) – Portugal’s Prime Minister Antonio Costa promised on Saturday to raise the monthly minimum wage by 25% to 750 euros ($830) by 2023 as he started his second term in the office, while reiterating the goal to cut public debt to below 100% of GDP.
Costa’s center-left Socialists, who presided over four years of strong economic growth and budget deficit cuts, won an Oct. 6 election, expanding their parliamentary representation as the biggest party but still just shy of a majority.
Costa - Support - Parties - Parliament - Communists
Costa has relied on support from the two far-left parties in parliament – the Communists and Left Bloc – in the last four years and the wage plan is likely to be well received by them. Portugal still has one of the lowest minimum wages in western Europe.
“The government now outlines its goal of reaching the minimum salary of 750 euros in 2023,” Costa said at the swearing-in ceremony of his new minority government, adding that the planned increase should surpass a rise of almost 20% in the previous legislature.
Salary - Year - Discussions - Bargaining - Partners
“The national minimum salary will evolve every year after discussions with the collective bargaining partners, depending...
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