Minimum wage expected by end of year – minister

Labour Minister Zeta Emilianidou said on Wednesday a minimum salary was expected to be adopted by the end of the year following the conclusion of talks between social partners.

Speaking at the 29th congress of SEK trade union, the minister said the matter was before the labour advisory board, which was expected to conclude the discussion by the end of the year and a minimum national salary will be adopted.

Studies, she said, showed that “workers will have only positive benefits and in no way will it negatively affect minimum salary governed by collective agreements.”

In June, the minister said the government had completed the necessary research as well as sensitivity analyses, to factor in all the potential fiscal consequences of such a programme.

A sensitivity analysis is a financial model that determines how target variables are affected based on changes in other variables known as input variables.

This model is also referred to as what-if or simulation analysis, and is a way to predict the outcome of a decision given a certain range of variables.