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Slovakian minimum wage to rise: official
Last Updated: 2018-08-08 03:35 | Xinhua
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The Slovak Labor Ministry has suggested increasing the minimum wage to 520 euros per month (600 U.S. dollars) next year, the head of the ministry's press department Michal Stuska confirmed on Tuesday.

Currently, the minimum wage in Slovakia is 480 euros.

"Higher minimum wage growth in 2019 is well-grounded because of the positive development of macroeconomic indicators that is also expected in the upcoming period," said Stuska.

According to Stuska, an increase in the minimum wage contributes to the country's macroeconomic growth.

"The National Bank of Slovakia in its predictions also states that an increase in disposable income enhances growth in consumption with households visibly increasing their consumption, thus significantly contributing to GDP growth," stressed Stuska.

He added that if people earn more, it will enhance the demand for local services and goods, which will significantly stabilize employment, said the ministry.

"Moreover, tradesmen or small firms in Slovakia might also have a problem surviving without the higher purchasing power of households, as demand for basic products, services and crafts depends on it," said Stuska.

Slovak social partners, trade unions and employers, will address the proposal with the labor ministry's at their meeting due on Aug. 20.

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