Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

Minimum monthly wage up 7.95 %

THE MINIMUM monthly wage in Slovakia will go up from €352 in 2014 to €380 (€2.184 per hour) in 2015, which represents an increase of €28 or 7.95 percent. The cabinet approved the increase on October 14 after the tripartite consisting of representatives of the government, employers and trade unions had failed to reach a consensus on the matter.

THE MINIMUM monthly wage in Slovakia will go up from €352 in 2014 to €380 (€2.184 per hour) in 2015, which represents an increase of €28 or 7.95 percent. The cabinet approved the increase on October 14 after the tripartite consisting of representatives of the government, employers and trade unions had failed to reach a consensus on the matter.

By the more significant increase of the minimum wage the cabinet wants to secure a higher monthly income than the poverty threshold, which is a level of income set at 60 percent of the median household income. The poverty threshold in 2013 was €337 per month, according to data from the Slovak Statistics Office.

Prime Minister Robert Fico marked the minimum wage increase as one of the fulfilled measures from the package of 15 positive social measures his cabinet has proposed.

As he said after the cabinet session, it is the duty of the cabinet, after hard consolidation, to arrive at measures that increase standards of living.

“We will constantly create pressure on increasing the minimum wage,” said Fico as cited by the SITA newswire. “It must be more worthwhile for people to work than to sit at home and take social benefits.”

Representatives of employers have been against such a high increase from the very beginning, claiming that the increase of labour costs that the minimum wage increase will bring may negatively affect the competitiveness of Slovakia’s industry.

PM Fico, who said that the minimum wage is for them a holy thing, responded that the cabinet offers to employers as compensation a mechanism of reduction of health insurance contributions.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Slovak healthcare needs thousands of medical workers

Slovak doctors, nurses and midwives are not hesitating in finding better work conditions abroad.

Illustrative Stock Photo

Study shows construction of Eastring gas pipeline is feasible

Construction of the interconnector may begin in 2022.

Variants of the possible route of Eastring

Spectacular Slovakia #3: Unexpected hiking (Enjoy Bratislava's greenery) Audio

In Slovakia, you can hike in the capital city. Listen to the latest episode of our travel podcast to find out more.

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between September 21 and September 30, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

Kapitulská