According to the minister, funds were foreseen in the draft budget for the increase of the minimum monthly salary to EUR 325 from 1 July, but a decision has not been made yet and will not be made any sooner than May.
Sadzius said the Tripartite Council decided that the minimum monthly salary should be increased, the Government cannot make a single-sided decision. In May the economic situation, the inflation level and wage dynamics will be assessed. The minimum salary will be increased if the economic growth is positive and meets the forecast of the Ministry of Finance. Sadzius believes that the increase of the minimum monthly salary would not have a negative effect on economy.
On the other hand, the minister noted that of the three Baltic States the minimum monthly salary is the lowest in Lithuania. Yet, the minister said that salary growth is not necessarily a positive thing. According to Sadzius, if wages grow faster than work productivity, this causes economic disproportion.
Currently the minimum monthly gross salary in Lithuania is EUR 300 (LTL 1,035). Meanwhile, in Latvia it is EUR 320 (LTL 1,105), in Estonia EUR 355 (LTL 1,225) and in Poland EUR 397 (LTL 1,370).
