Portugal's Government Plans to Raise Minimum Wage to €860: What You Need to Know

Overview

The Portuguese Government is set to propose an increase in the national minimum wage to €860 starting next year, as reported by ECO. This decision reflects a significant 4.9% increase, surpassing the government's nominal economic growth forecast of approximately 4.5%.

Next Steps

The proposed wage hike will be a topic of discussion during the Social Concertation meeting scheduled for September 11. The meeting will include representatives from employers' confederations and trade unions, ensuring that both sides have a voice in the decision-making process.

This move aims not only to improve the living standards of workers but also to align wages with the economic growth of the country. The Government's commitment to engaging in dialogue with relevant stakeholders underscores its approach to wage policy and economic management.