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The Polish government has proposed an increase to national minimum of around 20% in 2024, a move economists believe will keep inflation higher for longer. Jan Woitas/picture alliance via Getty ImagesPoland's government has proposed a record rise in the national minimum wage of more than 23%, a move economists are worried will exacerbate double-digit inflation. In an interview with state-controlled news agency PAP last month, Polish Family and Social Policy Minister Marlena Malag said the minimum wage increase was designed to help people cope with the increased cost of living. Consumer price inflation in Poland eased in May, but still increased 13% year-on-year. He highlighted that given a "notable increase" in the number of workers that receive minimum wage in Poland in recent years, the impact of the latest increase is likely to be "meaningful."
Persons: Jan Woitas, , Donald Tusk, Marlena Malag, Adam Glapinski, Rafal Benecki, Benecki, Nicholas Farr Organizations: Justice, Getty Images, Coalition, European, Social, National Bank of Poland, Monetary, ING Poland, Capital Economics Locations: WARSAW, Poland, Warsaw, Central, Eastern Europe, Polish, Europe
Poland to raise minimum wage twice in 2024, minister says
  + stars: | 2023-05-27 | by ( ) www.reuters.com   time to read: +1 min
WARSAW, May 27 (Reuters) - Poland plans to raise the minimum wage twice in 2024 to help people cope with high inflation, Family and Social Policy Minister Marlena Malag said, as the ruling Law and Justice (PiS) party prepares for a parliamentary election later this year. "The minimum wage next year will be above 4,200 zlotys ($1,015)," Malag was quoted as saying by state-controlled news agency PAP. She said that, like in 2023, next year the minimum wage will be raised in two steps - from Jan. 1 and July 1. The minimum wage was raised to 3,490 zlotys from January 2023 and will be lifted to 3,600 zlotys from July. ($1 = 4.1422 zlotys)Reporting by Anna Koper; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.
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