Thursday, April 25, 2024

Poland to raise minimum wage twice in 2024 to counter inflation

Date:

Poland’s Family and Social Policy Minister Marlina Malak said on Saturday that Warsaw plans to raise the minimum wage twice in 2024 to help people cope with high inflation. It comes as the ruling Law and Justice party prepares for parliamentary elections later this year.

The cost of living has risen dramatically in recent months, with inflation hitting 14.7 percent in April at 18.4 percent year-on-year in February, the highest in more than a quarter of a century.

“Next year the minimum wage will be more than 4,200 zlotys” – about $1,015 -, the Polish press agency quoted Malak as saying, “As happened in 2023, the minimum wage will be raised twice next year, the first starting on the first of January, and the second starting on the first of July .

Malak revealed that three million people in Poland currently earn the minimum wage, explaining that the move is aimed at ensuring that Poles earning the minimum wage live in dignity.

The minimum wage saw its first increase to 3,490 zlotys — about $826 — from January 2023, and will see another increase to 3,600 zlotys — about $850 — starting in July.

A date for parliamentary elections has not yet been set, but they are expected to be held in October or November.

The government in Poland is legally obliged to raise the minimum wage twice in the same year if the inflation rate exceeded 5 percent in the previous year.

(Polish News Agency)

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:

Popular

More like this
Related

Unlocking the Power of Booking Engines in the Hospitality Industry

In an era dominated by technology, the hospitality industry...

Boost Your Sales with Perfect Banner Printing Services in Dubai

In the fast-paced world of business, effective advertising is...

Defend Against DDoS Attacks with Qrator Labs’ Anti-DDoS Solutions

Protecting your online assets from DDoS (Distributed Denial of...

UAE Powering Gaming Boom in the Middle East

The gaming industry in the Middle East is experiencing...