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Moldova: The minimum wage has been increased by 25% - up to 5000 lei from January 1, 2024.

Moldova: The minimum wage has been increased by 25% - up to 5000 lei from January 1, 2024.

According to an earlier government decision, in particular, from January 1, 2024 the minimum wage is set at the level of 5000 lei per month with an average monthly working time of 169 hours, which will amount to 29.58 lei per hour. Before that, the minimum wage in Moldova in the real and budgetary sectors was the same and amounted to 4000 lei per month with an average monthly working time of 169 hours (23.67 lei per hour). The increase of the minimum wage to 5000 lei is meant to ensure the sustainability of the growth of minimum wage guarantees for workers, as well as to support their purchasing power. It will also ensure the protection of the most vulnerable categories of workers; it will contribute to the fight against tax evasion and formalization of work. In addition, budget revenues will increase as a result of increased deductions from taxes and levies on wages. A special effect is expected in a number of sectors - agriculture, fish farming and forestry, recreation and entertainment, real estate transactions, administrative services and support, in which from 17% to 26% of employees receive salaries within 4 thousand lei, and from 16% to 23% - from 4 thousand to 5 thousand lei per month. Besides, the minimum wage will be applied when calculating wages for simple, unskilled labor in the public sector, which employs about 36,000 public sector workers. // 02.01.2024 - InfoMarket

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