The purchasing power of salaries in Greece remains at a very low level compared to the rest of the EU countries, which have implemented a similar system for determining basic salaries in the private sector.
Despite successive increases in the minimum wage in recent years, purchasing power lags significantly, especially compared to the countries of North-West Europe. However, in relation to the position the country held in 2009, the data show that in the first half of 2024, Greece has further fallen compared to the Mediterranean member states, but even to those of Eastern Europe.
Essentially, it seems that Greece over the last 15 years has suffered a significant decline in terms of the purchasing power of wages in the private sector.
The analysis, carried out by the experts of the Labor Institute (INE) of GSEE and presented exclusively by “Naftemporiki”, shows that the minimum wage in Greece, from the first half of 2009 to the first half of 2024, that is, in a period of 15 years, it fluctuated in a very small range from 701 to 780 euros (gross).
The data comes from Eurostat and the recent increase in the minimum wage (830 euros) will be incorporated into the analyzes of the second half of this year.
