Minimum wage increase made official in Latvia

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The President of Latvia, Egils Levits, has on November 11 announced amendments to the Labor Law, which provides that as of 1 January next year, the minimum monthly salary is EUR 620, according to the official publication Latvijas Vēstnesis.

The amendments to the Labor Law also provide for a minimum monthly salary of not less than EUR 700 as of January 1, 2024.

The Saeima adopted amendments to the Labor Law at the third reading on October 27. 

Raising the minimum wage contributes to increases in household incomes and at the same time can motivate more labor market involvement, and is one of the tools for reducing the poverty of workers, the bill states.

The Latvian Employers' Confederation (LDDK) recently sent a request to the President not to announce the changes to the law, citing non-standard and unsustainable practices in the drafting of the law.

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