Minimum wage in Moldova may increase by 25% - up to 5,000 lei from January 1, 2024.
The relevant draft government decision was examined at a meeting at the State Chancellery. In particular, it is proposed to set the national minimum wage at 5,000 lei per month starting from January 1, 2024, with an average monthly working time of 169 hours, which amounts to 29.58 lei per hour. At present, the national minimum wage in the real and budgetary sectors amounts to 4,000 lei per month, with an average monthly working time of 169 hours, which amounts to 23.67 lei per hour. The draft is to be approved by the government. Let us remind you that the Finance Ministry's proposal to raise the minimum wage by 25% at once was supported by the trade unions and patronages at a meeting of the National Commission for Consultations and Collective Bargaining. This measure is designed to ensure the sustainability of the growth of minimum wage guarantees to support the purchasing power of workers and to increase the level of competitive environment at the regional and international levels in terms of the use of labor force. Raising the minimum wage is also necessary as part of the fight against wage inequality and to establish remuneration sufficient to meet the basic needs of workers. This measure will also protect the most vulnerable categories of workers; help to combat tax evasion and the formalization of work; and increase budget revenues as a result of increased deductions from taxes and levies on wages. A special effect is expected for such sectors of the real economy as agriculture, fish farming and forestry, recreation and entertainment, real estate transactions, administrative services and support, where from 17% to 26% of workers receive salaries within 4 thousand lei, and from 16% to 23% - from 4 thousand to 5 thousand lei per month. At the same time, over 500 million lei will be needed to increase the minimum wage for 36,000 employees of the budgetary system. The additional burden on the budgets of public institutions, municipal enterprises, JSCs with majority state share in the authorized capital, which benefit from state subventions, will be assessed during the implementation of the project's provisions. // 28.11.2023 - InfoMarket
