PM Antonio Costa says salaries must increase by 20%

Written By Lara Silva

During the first CNN Portugal Summit, Prime Minister Antonio Costa’s promise to increase salaries by 20% in the next four years was repeatedly questioned. The Prime Minister of Portugal defended the measure and believes it is inevitable in the EU landscape. 

Prime Minister Antonio Costa confessed he was “surprised by the surprise” caused by his support for a 20% increase in salaries in the next four years when the average wage increased by 22% in the last few years. He said, “It is necessary that we maintain the current rate of wage increase that we have seen in the last few years”.

Costa has said there is “no other remedy”, but to increase salaries. He said, “the new generation is not available to work the long hours that companies are used to. Young people do not want to work in a place with authoritarian management and that is uncreative”. 

The Prime Minister reminded the audience that for the first time since the 16th century, the Portuguese have a qualified generation, above the EU average. Antonio Costa said that in the last few years, an effort has been made to decrease school dropout rates and increase the qualifications of young people. The government decreased school dropout rates “from 12.9 to 5%”, reminded Costa.

Mario Centeno, the President of the Bank of Portugal said at the CNN Portugal Summit that “there is no other way to increase income other than through the increase in qualifications”. He also argues that the state should increase the salaries of public workers next year, as long as “inflationary pressures” are not created. 

Stay up to date
Subscribe To Portugal.com's Newsletter

Receive the latest news, travel information, stories, offers and more!

Invalid email address
Give it a try. You can unsubscribe at any time.
Join our FB group Portugal Travel & Living for all things Portugal and news updates

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Follow Us

415FansLike
408FollowersFollow
159FollowersFollow

Most Popular

A Swiftie Fan Hot Spot Has Opened at Colombo Shopping Mall Right Next to the Eras Tour – Lisbon

Taylor Swift's Eras Tour takes over Benfica Stadium (Estádio Luz) for two nights (May 24 and 25) starting tomorrow, but the sports stadium where...

Welcome to Portugal (Taylor Swift’s Version)

We are only 14 days DTTS (Days Til Taylor Swift) here in Portugal, and we can barely contain our excitement. Not only is this...

Time required to get Portuguese citizenship reduced by 12-18 months

Portuguese residents waiting to apply for citizenship can now breathe a huge sigh of relief! The Portuguese Parliament passed significant amendments on March 5th...

Latest Articles