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Published: 20 december 2012 09:27

Lithuanian government okays raising minimum wages

Šešėlinė ekonomika
Andriaus Ufarto/BFL nuotr. / .

The Lithuanian government has agreed to a proposal to raise the minimum monthly wages to 1,000 litas (EUR 289.85) from January 1.

In a letter to the government, the Ministry of Social Security and Labor said that a rise in the minimum pay would lead to an increase in the income of lowest earners and in domestic consumption as well as to a decrease in the number of people receiving social benefits and in the sum of public funds spent on social benefits and compensations for heat and water supply.

“Positive effects of raising the minimum wage to 1,000 litas (by 17.65 pct) would be felt by around 200,000 workers, including around 50,000 workers in budget-funded entities,” the letter reads.

As estimated, around 160 million litas in central government’s and municipal funds would be required for the raising of the minimum pay. The authorities do not intend to increase wages of public officers next year.

The minimum wage in Lithuania currently stands at 850 litas. It was last raised – by 50 litas – on July 1 this year.

BNS
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