Minimum wage in Latvia will be EUR 500 starting next year

As from January 1, 2021, the national minimum monthly salary will be raised from EUR 430 to EUR 500, in line with the amendments to Cabinet regulations adopted on Tuesday, November 24.

It is estimated that an employee whose salary increases from EUR 430 per month to EUR 500 per month will get about EUR 50 more each month, the Ministry of Welfare said in a statement.

“The minimum wage was unchanged for the last three years and it is high time it was revised. I am pleased that the coalition has agreed unanimously on this. Thus, for workers without dependents who receive the minimum wage, the real increase will be almost EUR 50. This is a long-awaited addition that should be continued in the future, but at the same time the possibility of raising the non-taxable minimum should also be considered,” said Ramona Petraviča, Minister for Welfare.

According to the figures from the Central Statistical Bureau of Labor Force Survey, in Q3 of 2020 the number of employees in Latvia was 793 100 and the number of employers was 36 500.

Data from the Central Statistical Bureau for June 2020 showed that 138 100 people received the minimum monthly salary of EUR 430 or less, of those 112 700 in the private sector and 22 600 in the public sector.

 

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Economy
Economy

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