Lithuania’s Tripartite Council, representing the country’s government, employers, and trade unions, is launching discussions on raising the minimum monthly wage to 1,070 euros before tax from January 2025.
The Bank of Lithuania has proposed raising the minimum wage by 16 percent from the existing 924 euros next year.
Emilis Ruželė, acting director of the Lithuanian Business Confederation, says such a minimum monthly wage would be too big of a burden on businesses.
“In our opinion, we need more discussions this year, taking into account the fact that there’s the ongoing public discussion on defence funding and tax increases. At least from the initial proposals, we see that most of those taxes would come from businesses. This is an important aspect when it comes to the minimum wage,” he told BNS.
“Our position is that the minimum wage will naturally increase, and the average wage is also increasing very fast, but we think that the increase could be more modest,” he added.
Inga Ruginienė, chair of the Lithuanian Confederation of Trade Unions, says discussions on changes to the formula for calculating the minimum wage and increasing the non-taxable income rate will be held.
Finance Minister Gintarė Skaistė said in early May that the minimum wage could likely exceed 1,000 euros next year.
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