(Bloomberg) -- Greece will raise the minimum wage for employees by 7.5% to 713 euros ($774) a month from 663 euros starting on May 1, Prime Minister Kyriakos Mitsotakis said Wednesday.
“‘Now is the time to boost lower incomes,” Mitsotakis said in a national televised address. He called on employers to act accordingly and increase wages for all employees.
Mitsotakis had promised in December to increase the minimum wage twice in 2022 and today's announcement follows a 2% rise that began on Jan. 1.
The move comes as citizens confront soaring energy and food prices after Russia's invasion of Ukraine exacerbated the jump in the price of natural gas. The government is considering additional measures to curb increases to power prices to help businesses and households if the European Union doesn't develop joint actions soon.
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