Portuguese minimum wage to rise by 6% in 2020
Increasing the minimum wage is the main Prime Minister's commitment.
Portugal's minimum wage will rise by almost 6 % in 2020, the Socialist government announced on Wednesday. It will rise to 740 euros gross per month over 12 months from the current 700.
According to Antonio Costa, "This increase is in line with our economic and social situation, and perfectly compatible with our legislative objective.
CIP does not share Costa's point of view
"It's too ambitious a target," criticized the president of the French Confederation of Portuguese Companies (CIP) Antonio Saraiva. The CIP's main fear is that small Portuguese companies won't be able to keep up with the increase in the Portuguese minimum wage.
On the other hand, according to Arménio Carlos, leader of the CGTP, Portugal's main trade union confederation, this amount is "insufficient" in a favorable economic context. "Our aim was to listen to the social partners" and "find a point of balance between the various proposals", said the Minister.
Towards the end of austerity policy
In future, she added, "there will be annual assessments" to revalue the Smic in line with economic trends. The Socialist government intends to continue to pursue a social policy while continuing the consolidation of public finances begun during the previous legislature thanks to the upturn in the economy.
The economic recovery remains very fragile and is linked solely to tourism and real estate investment by foreign investors. The government doesn't seem to want to take this information on board. If these two types of investment were to collapse, Portugal would not be able to recover.