The national minimum wage is expected to increase twice by 2028, Labour Minister Yiannis Panayiotou said after a parliamentary Finance Committee session examining the Labour Ministry’s 2026 budget.
He explained the first review of the minimum wage is expected to be made by decree in December 2025 and take effect in January 2027. He added the second review is estimated to be implemented in December 2027 and take effect in 2028.
According to Panayiotou, an increase in the minimum wage from January 2026 is certain. Asked about the size of the increase, he avoided commenting, stressing the advisory committee meeting process is ongoing.
He said that if the economy’s course is positive, it follows that those receiving the minimum wage should benefit, amounting to around 55,000 workers.
Regarding compliance with the European directive on adequate wages, as confirmed by the EU Court, he said social partners would receive an invitation today for the first meeting of the advisory committee on minimum wage adjustment.
On wage adequacy, he stated that completion and submission to the Commission of the action plan for adequate wages is scheduled for the first quarter of 2026, along with submission to parliament of the bill transposing the European directive.
On the issue of cost of living adjustment for the minimum wage, he said it would be calculated cumulatively for the previous two years.
On pension reform, the labour minister assured that bills would be submitted within the year with the aim of implementation in 2027.
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