Minimum wage planned at EUR 620 next year in Latvia

Take note – story published 1 year ago

The minimum wage in Latvia is expected to increase from the current €500 to €620 next year, and to €700 from 2024, according to the amendments to the Labor Law conceptually supported by the Saeima on Thursday, September 29.

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

The annotation notes that the average salary in the country has increased in recent years. Data from the Central Statistical Bureau showed that in 2021 the average gross salary for full-time work was EUR 1,277, which is EUR 11.8% or EUR 135 more than in 2020.

Amendments to the Labor Law have yet to be seen in two readings.

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