Companies are protesting Robert Fico’s plan to set minimum wage at 60% of the average wage

Companies are protesting Robert Fico’s plan to set minimum wage at 60% of the average wage in the economy. No other OECD country has a minimum wage so high; France (49%) and Slovenia (48%) come closest. They also point out that since 2010, labor productivity in the economy has risen 12% but minimum wage soared 70%. This hurt the Slovak economy’s competitiveness. Companies would prefer the minimum wage growth to lag behind productivity growth.

Parliament will discuss Fico’s proposal in September. The coalition party Most-Híd indicated it might not support it.

(HN/1)