Warsaw, June 14, 2024 (Financeflashnews) – Good news for Polish workers! The government on Tuesday announced plans to dramatically increase the minimum wage in 2025, making it one of the highest in the region. The wage would surpass the €1,000 mark, significantly improving the living standards of millions.
Phased Increase:
The 2025 minimum wage hike follows two stages of growth this year. In January 2024, the wage increased from 3,600 zlotys to 4,242 zlotys. In July 2024, it will see a further slight increase to 4,300 zlotys (around €990).
Ambitious 2025 Plans:
The government is proposing a 7.6% increase in the minimum wage for 2025, bringing it to 4,626 zlotys, which translates to €1,064. The hourly minimum wage would rise from 28.10 zlotys (€6.46) to 30.20 zlotys (€6.95).
Expected Impact:
An estimated 3 million people in Poland are expected to benefit from the increased minimum wage in 2025. This should boost domestic purchasing power and support economic growth. However, the proposal will go to the Social Dialogue Council, which includes representatives of the government, trade unions, and employers, for discussion.
Context:
Minimum wage hikes are traditionally a sensitive topic in Poland. Proponents argue that they are necessary to improve the living standards of working people and strengthen the domestic economy. Opponents fear they could lead to job losses and inflation.
Important Note:
The inflation rate in Poland is well below 5% in 2024, the threshold for two-stage minimum wage increases. Nevertheless, the government wants to significantly raise the wage despite this, to support rising living costs and improve living standards.
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