A proposal to increase the minimum wage by 20 euros, to 420 euros next year has reached Lithuania’s Tripartite Council, which is set to make the decision later. The proposal was submitted by Gediminas Simkus, head of the Bank of Lithuania’s Economics and Financial Stability Service.
Arturas Cerniauskas, chairman of the Council, representing employees, said that discussions on the matter had been postponed until the next meeting.
The Tripartite Council decided last year that the minimum monthly wage should stand at 45-50% of the average salary, and the specific ratio should be equal to the average ratio of four EU member states with the largest ratios, but should not exceed the 45-50% limit. (BNN/Business World Magazine)