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back to index backGLOBALtalk July,  2007


Minimum wage increased in 11 European countries

Eleven countries have increased their minimum wage, effective in 2007: Belarus, Bulgaria, Estonia, Hungary, Ireland, Latvia, Luxembourg, Portugal, Romania, Spain and Turkey.

Details for each country are the following:

Belarus: From BYR 156,900 (USD 73) monthly to BYR 179,050 (USD 83)
Bulgaria: From BGL 160 (USD 97) monthly to BGL 180 (USD 122)
Estonia: From EEK 3,000 (USD 227) monthly to EEK 3,600 (USD 304)
Hungary: From HUF 62,500 (USD 292) monthly to HUF 65,500 (USD 342)
Ireland: From EUR 7.65 (USD 9.06) per hour to EUR 8.30 (USD 10.96) per hour as of January 1, 2007, and to EUR 8.65 (USD 11.36) an hour as of July 1, 2007.
Latvia: From LVL 90 (USD 153) monthly to LVL 120 (USD 227)
Luxembourg: From EUR 1,503 (USD 1,780) monthly to EUR 1,570 (USD 2,073)
Portugal: From EUR 386 (USD 457) monthly to EUR 403 (USD 532)
Romania: From RON 330 (USD 106) monthly to RON 390 (USD 151)
Spain: From EUR 540 (USD 639) monthly to EUR 570 (USD 753)
Turkey: From TRL 380 (USD 282) monthly to TRL 403 (USD 283) as of January 1, 2007, and to TRL 419 (USD 301) as of July 1, 2007.

Latvia had the greatest increase with a 33.3 percent growth in local currency and 48.2 percent in U.S. dollars, both being much higher than the average growth rate of 11.8 percent in local currency and 23.8 percent in U.S. dollars.

Luxembourg, which currently has the highest minimum wage in Europe, had the lowest increase in local currency (4.5 percent). On the other hand, although Turkey showed an increase of 6.1 percent in local currency, it had the lowest growth in U.S. dollars (6.9 percent) as a consequence of the new lira’s devaluation.

Source: Watson Wyatt Worldwide - GAI


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