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ARTICLE · 04 JANUARY 2024

From €885 To €1000: Cyprus Raises Minimum Wage

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n a decisive move aimed at addressing economic concerns and aligning with the prevailing inflationary pressures, the Council of Ministers...

CyprusEmployment and HR
Yianna Papademetriou
Yianna Papademetriou
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In a decisive move aimed at addressing economic concerns and aligning with the prevailing inflationary pressures, the Council of Ministers has issued a groundbreaking decree heralding a revision of the National Minimum Wage (NMW). The new Government decree for the revision of the NMW was made on December 20, 2023. According to it, the minimum wage for full-time employment with the same employer up to 6 months from 01/01/2024, increases from €885 to €900 gross and after completing 6 months of full-time and continuous employment with the same employer, from €940 increase to €1000 gross.

The trade unions in Cyprus expressed their satisfaction with the increases as the inflation of the last year has caused discomfort in the consumer's basket.

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