Greek PM pledges pension, wage hikes by 2027, within budget limits

8/9/2024 8:32

        Greek Prime Minister Kyriakos Mitsotakis promised on Saturday to increase pensions, cut taxes and social security contributions, and increase the minimum wage in 2025, as thousands rallied to protest a high cost of living.
        
        In his annual economic policy speech at the Thessaloniki trade fair in northern Greece, he said Greece will create more jobs, increase pensions by up to 2.5% in 2025 and will raise the monthly minimum wage from 830 euros ($920) to 950 euros gradually by 2027. He added that social security contributions would be cut by 1 point.
        
        Greece is still recovering from a debt crisis that wiped out nearly a fourth of its economic output in 2009-2018, due to austerity measures that included repeated wage and pension cuts.