Inflation forces Poland to plan raising minimum wage twice in 2024

Robert Besser
30 May 2023, 20:36 GMT+10

Plans are underway in Poland to gradually raise the minimum wage twice in 2024.
The wage plan has been announced by Family and Social Policy Minister Marlena Malag, in a bid to assist families that are suffering due to inflation.
While Polish consumers have watched as inflation has grown in recent months, inflation numbers for February were the highest in more than 25 years in Poland, reaching 18.4 percent year on year.

WARSAW, Poland: Plans are underway in Poland to gradually raise the minimum wage twice in 2024.

The wage plan has been announced by Family and Social Policy Minister Marlena Malag, in a bid to assist families that are suffering due to inflation.

While Polish consumers have watched as inflation has grown in recent months, inflation numbers for February were the highest in more than 25 years in Poland, reaching 18.4 percent year on year. In April inflation stood at 14.7%.

"The minimum wage next year will be above 4,200 zlotys ($1,015)," Malag said, as quoted by Reuters.

Similar to 2023, Poland's minimum wage will be raised in two steps in 2024 - on January 1 and July 1.

The minimum wage was raised to $826 per month on January 1, 2023 and will be lifted to $852 on July 1.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Business Sun.

More Information

27 ℃

Mostly Cloudy in Seletar

Financial Markets

Section

Ireland's Northern and Western Regions demand euro570 million package

DUBLIN, Ireland: The Northern and Western Regional Assembly (NWRA) is calling on the government to allocate a stimulus package of ...

U.S. stock markets finish Friday mixed over Congress mayhem

NEW YORK, New York - Stock prices were punctured Friday bringing to an end the 'flash in the pan' rally ...

U.S. stocks rise as dollar loses steam

NEW YORK, New York - Easing pressure on U.S. Treasury yields boost stocks on American markets Thursday. Gains however were ...

Ford puts Michigan EV battery plant work on hold due to union issues

DEARBORN, Michigan: Due to concerns about its ability to operate competitively while it is locked in broader union contract negotiations, ...

U.S. stocks struggle, techs however eke out minor gain

NEW YORK, New York - U.S. stocks remained on a slippery slope on Wednesday as interest rates continued to hover ...

Company says, ChatGPT will hear and speak with users

SAN FRANCISCO, California: In a major update that will move it closer to popular artificial intelligence (AI) assistants, such as ...

Technology

Section