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Portuguese gov't to raise national minimum wage to 557 euros in 2017

Xinhua, December 23, 2016 Adjust font size:

Portugal's national monthly minimum wage will rise to 557 euros (581 U.S. dollars)from January 2017, the government and its social partners agreed on Thursday at a meeting here.

The government also approved cutting social single tax for companies by 1.25 percent.

The monthly minimum wage is currently 530 euros and the government has promised to raise it to 600 euros by 2019.

Portuguese Prime Minister Antonio Costa came into power in November last year. He has vowed to reverse austerity, namely raising the minimum wage and restoring salaries and pensions.

The Portuguese parliament recently rejected a proposal by the Communist Party to raise the minimum wage to 600 euros.

The secretary general of Portugal's Communist Party said earlier this week that the party will continue to fight to increase the country's monthly minimum wage to 600 euros. Trade union CGTP has also said that raising to 557 euros was "insufficient."

According to a report from the government in September this year, around 21 percent of Portuguese employees were on national minimum wage.(1 euro = 1.04 U.S. dollars) Endit