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20 Euro Rise in Portugal’s National Minimum Salary

20 Euro Rise in Portugal’s National Minimum Salary

Great news for Portugal! After what seemed like an endless time of economic crisis worldwide, the Portuguese government announced a 20 Euro Rise in Portugal’s National Minimum Salary, starting this October.

Intense promotion of the Portuguese tourist product and a rather good administration must have paid off! Spain’s neighbour is rejoicing in a recovery from recession marked by an increase in wages and a slight relaxation of taxation. The Government and its social partners have come to an agreement and announced the immediate increase of the national minimum salary (currently 485 Euro) to 505 Euro per month.

Starting this October, the Portuguese will have a bit more funds to spend as they please. This was made possible thanks to the agreement between the Government and the Confederacao do Turismo Portugues, Confederacao do Comercio e Servicos de Portugal and UGT. The Prime Minister and Mota Soares (the one who negotiated the agreement) were present. Among the parties involved, the Commerce Confederation was by far the most resistant to the idea of an increase in the minimum wage.

Ever since the beginning of the year 2014, the Government in Lisbon showed a particular opening towards a negotiations for an increase in the minimum wage, but for various reasons, these discussions came to a halt on several occasions. Nevertheless, the good news finally came: a 20 Euro increase would be possible. It is a small start, but as opposed to the recession measures that are still being undertaken by other European Governments, this decision brings much hope.

This relative relaxation was made possible by a recovery of the Portuguese economy, particularly seen in the tourist industry, Portugal being an important player, providing affrdable and beautiful holidays, being one of the top destinations in the preferences of Western-Europeans (mainly the Brits, Germans, Dutch and Frenchmen who flee the cold of home on the welcoming shores of the Algarve, where they explore by rental car or simply enjoy the sun and the relaxation).

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