Minimum Wages in Europe: Bulgaria Hopelessly Behind

Written by on February 10, 2017 in Bulgaria, Business, Economy, Latest - 1 Comment

There are 28 member states in the European Union, 22 of which have minimum wages. There are ten eastern European states with minimum wages of less than 500 Euro, five states, in the south of the E.U., with minimum wages of less than 1,000 Euro and seven states in the north-western part. Of course the latter have much higher minimum wages.

Eurostat, the E.U.’s statistics authority, came up with a list of minimum wages in 22 countries, while in Denmark, Cyprus, Austria, Finland and Sweden, there is no such thing.

In Luxembourg, the minimum wage is 1,999 Euro. The tiny country is the “winner” in the Union. In Ireland, the Netherlands, Belgium, Germany and France, the minimum wage is around 1,500 Euro, while in the U.K. it is the equivalent of 1,397 Euro. In Spain and Slovenia, it’s around 800 Euro, in Malta 736, Greece 684 and Portugal 650 Euro.

The differences grow even more, when we include eastern Europe. In that region, Estonia is still good, in comparison, with a minimum wage of 470 Euro. Most other eastern European countries are still above 400 Euro, while Lithuania is at 380 Euro.

Now there are only two countries left. In Romania, a minimum wage is the equivalent of scandalous 275 Euro and in Bulgaria it is only 235 Euro. If multiplied by 9, we are back at Luxembourg’s amount.

Of course the minimum wage in each country, along with all other wages, has implications for the buying power and therefore the economy. Especially in this region of Europe (this publication is being made in Sofia), things are looking grim indeed.

By im.

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