National Minimum Wage in 2024: 820 Euros
SÉRVULO PUBLICATIONS 17 Nov 2023
In 2011 and during the period of the Economic and Financial Assistance Program, the Portuguese State took on the obligation not to increase the guaranteed minimum monthly wage ("GMMW"), unless this was justified in the light of economic and labour market developments. This resulted from Measure 4.7 of the Memorandum of Understanding on Specific Economic Policy Conditionality, signed that year between Portugal and international partners (International Monetary Fund, European Commission and European Central Bank).
Following the conclusion of the assistance Program, the Government approved Decree-Law no. 144/2014 of 30 September, increasing the value of the GMMW from 485 euros to 505 euros as of 1 October of that year (2014).
In 2015, Decree-Law 254-A/2015 of 31 December, which came into force on 1 January 2016, updated the GMMW to 530 euros.
Decree-Law 86-B/2016, of 29 December, increased the GMMW to 557 euros in 2017, Decree-Law 156/2017, of 28 December, provided for an increase in the GMMW to 580 euros in 2018, Decree-Law 117/2018, of 27 December, set the GMMW at 600 euros in 2019, Decree-Law 167/2019, of 21 November, set the GMMW at 635 euros in 2020, Decree-Law no. 109-A/2020, of 31 December, updated the GMMW to 665 euros and, in 2021, Decree-Law no. 109-B/2021, of 7 December, set the GMMW at 705 euros in 2022. Finally, in 2022, Decree-Law 85-A/2022 of 22 December set the GMMW at 760 euros in 2023.
For 2024, Decree-Law 107/2023 of 17 November set the GMMW at 820 euros. In this context, the aim is for the GMMW to reach 900 euros by 2026.
|
Year1 |
GMMW (€) |
|
2015 |
505 |
|
2016 |
530 |
|
2017 |
557 |
|
2018 |
580 |
|
2019 |
600 |
|
2020 |
635 |
|
2021 |
665 |
|
2022 |
705 |
|
2023 |
760 |
|
2024 |
820 |
This update takes effect on 1 January 2024, implementing the provisions of the Labour Code that recognize the right of employees to an GMMW, the value of which is determined annually by specific legislation, after consultation with the Permanent Social Dialogue Committee.
Rita Canas da Silva | rcs@servulo.com
Juliana Campos | jca@servulo.com
[1] For a more detailed evolution, see https://www.pordata.pt/Portugal/Sal%C3%A1rio+m%C3%ADnimo+nacional-74-7892
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