The minimum wage in Cyprus will be increased to 1000 euros

The Minister of Labor, Yannis Panayiotou, announced this after a cabinet meeting. According to the minister, the government of the Republic of Cyprus has decided to issue a decree on the maximum amount of the minimum wage for 2023 in line with the proposal of the Ministry of Labor and Social Insurance. This decree stipulates that the minimum monthly wage for full-time employment after six months of continuous work will increase from 940 to 1000 euros.

This decision was made by the government after several months of debates with trade unions and employers' organizations.

The Minister of Finance did not specify when the decree would come into effect. However, it is expected to take effect after its publication in the "Official Gazette."

As a reminder, the current minimum wage of 940 euros per month was set by law from January 1 of this year. Unions insisted on increasing this amount to 1020 euros. Initially, employer representatives opposed the increase, but later agreed to 970 euros.

It is noted that the decree on the minimum wage does not apply to domestic workers, people working in agriculture and animal husbandry, individuals employed in the shipping industry, as well as hotel employees covered by another decree.