Seimas Speaker Loreta Graužinienė expects that Russia's sanctions will not cause a sharp decline in Lithuania's budget revenue and says that she sees possibilities for raising monthly minimum wage.
© DELFI / Šarūnas Mažeika

"I was right when I said that the minimum wage would have to be raised. There is no alternative and there are possibilities. We are taking everything into account, but there are other economic processes in which we see growth rather than decline. So, everything will be balanced. I believe that the government's experience and that of the ruling coalition will help solve these issues," she said on the Žinių Radijas radio on Wednesday.

It is possible to increase minimum wage to 300 euros at the end of this year and raise it further to 350 euros next year, Graužinienė said.

"Yes, such figures are possible. I am pleased to hear that experts, including (Swedbank's chief economist) Nerijus Mačiulis, agree that the minimum wage needs to be raised, although they criticized me for this some time ago. I think I was right," she said.

The monthly minimum wage currently stands at 1,000 litas (EUR 290). It was last raised by 150 litas in January 2013.

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