Minimum wage increase proposed by Ministry

The Labour Ministry suggested on Wednesday a 10% hike of the minimum wage from €435 to €480 as of next year. However, Slovak employers are warning that the highest ever increase in the minimum wage may put some companies out of business. The Association of Employers Unions stressed that just because the economy is doing well does not mean that all businesses are also thriving. According to the association, problems may be faced by the textile sector in particular, due to its competition with Chinese producers. On the other hand, the Trade Union Confederation has embraced the ministry's proposal, emphasizing that higher salaries positively influence living standards, motivate people to get a job and, ultimately, boost the economy's performance.