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Cyprus one of only six EU states with no minimum wage

Vassiliko Cement07

Cyprus is one of only six countries in the EU which do not have national minimum wages, Eurostat reported.

“As of January 1, 2021, 21 out of the 27 member states of the EU have national minimum wages: only Denmark, Italy, Cyprus, Austria, Finland and Sweden do not,” the report said.

Monthly minimum wages were generally below €700 in the east and above €1,500 in the northwest of the EU. Bulgaria had the lowest, €332, and Luxembourg the highest, €2,202.

Across the 21 member states concerned, the highest minimum wage in the EU was 6.6 times higher than the lowest.

However, the disparities in minimum wages across the EU member states are considerably smaller once price level differences are taken into account. By eliminating price differences, minimum wages ranged from 623 PPS (purchasing power standard) per month in Bulgaria to 1,668 PPS in Luxembourg, meaning that the highest minimum wage was 2.7 times higher than the lowest.

 

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