Pierakakis: Salary Increases for 1M Private Sector Workers Start Today

Starting today (January 30, 2026), salary increases announced at last year’s Thessaloniki International Fair (TIF) take effect for 1 million private-sector employees, Finance Minister and Eurogroup President Kyriakos Pierakakis confirmed in a SKAI interview. The adjustments vary by employee category, with tax abolition fully applied to two key groups: large families and workers under 25. As an example, Pierakakis cited a large-family employee earning €1,800 monthly who will receive an additional €300—equivalent to roughly 2.5 extra monthly salaries annually due to eliminated taxation. He stressed this is a targeted policy supporting disposable income, acknowledging existing challenges without claiming they are all solved. Measures prioritize families with children and young entrants to the labor market. He also referenced nationwide ENFIA property tax exemptions for villages. Regarding the €750 million fiscal space identified by the Hellenic Parliament’s Budget Office, Pierakakis clarified it primarily concerns next year’s budget planning—and that TIF serves as the official platform for announcing the Prime Minister’s annual economic agenda. He noted past mid-year interventions were made when economic performance exceeded forecasts, reaffirming that no further measures beyond this fiscal space exist—for now. If growth outperforms expectations, the government stands ready with additional targeted actions. He emphasized the space reflects overall economic trajectory and revenue trends—not just tax evasion gains, though €2.2 billion has already been recovered through enhanced digital tools at the Independent Authority for Public Revenue (AADE). Pierakakis reiterated the government’s four-year targets: raising the minimum wage to €950 and average wage to €1,500. He highlighted AADE’s success in combating tax evasion via upgraded digital systems—while stressing continuous improvement remains essential. He cited data showing ~180,000 cases reporting monthly rents of just €100 as evidence of persistent anomalies requiring attention.