Thus, we anticipate positive effects too, such as a partial reduction of ‘’cash-in-hand’’ payment phenomenon, which will allow the growth of social security contributions. An increase of the minimum wage in the real sector would entail a certain increase of the median wage, given that some companies sign employment contracts stating the minimum wage, while the rest of the salary is paid "under-the-table". In particular, it requires a sufficient period of time between the approval of a higher legal minimum wage and its entry into force ( eg at least several months, instead of only seven days since its approval, provided to employers for planning in 2014)Īssessing the impact of this decision.
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