Lithuania's Minister of Finance Rimantas Šadžius says that if the economy and wages grow, then raising the minimum monthly salary to EUR 325 from 1 July will not have a negative effect on public finances.
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According to the minister, there are funds in the draft budget for the increase of the minimum monthly salary to EUR 325 from 1 July, but a decision has not been made yet and will not be made before May.

Šadžius said the Tripartite Council decided that the minimum monthly salary should be raised, the Government cannot make a unilateral decision. In May the economic situation, the inflation level and wage dynamics will be assessed. The minimum salary will be increased if the economic growth is positive and meets the forecast of the Ministry of Finance. Šadžius believes that the increase of the minimum monthly salary would not have a negative effect on the economy.

On the other hand, the minister noted that of the three Baltic states Lithuania has the lowest minimum wage. However, the minister said that salary growth is not necessarily a positive thing. According to Šadžius, if wages grow faster than work productivity, this causes economic disproportion.

Currently the minimum monthly gross salary in Lithuania is EUR 300 (LTL 1,035). Meanwhile, in Latvia it is EUR 320 (LTL 1,105), in Estonia EUR 355 (LTL 1,225) and in Poland EUR 397 (LTL 1,370).

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