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The Latvian Government Decided to Increase a Minimum Wage to 360 Euro in 2015

On Monday, the Latvian government at an extraordinary meeting decided to increase the minimum wage by 40 euro from January 1, 2015 - from the current 320 to 360 euro per month, reported to BNS in the Ministry of Finance.

“It was emphasized the need to continue the work on reducing income inequality of people in the pre-election period, as well as to increase the minimum monthly salary in the country. This promise was fulfilled by the government, however, we must continue the work and move forward to establish a differentiated non-taxable minimum income, thus supporting the recipients of small wages”, said the Minister of Finance Janis Reirs (Jānis Reirs).

In 2016, it is planned to introduce a progressive minimum which is tax-free from income tax, as well as increase the benefits for paying of income tax for the dependents being in the charge, considering the increase of the benefits for the second and each subsequent child in order to reduce income inequality of residents.

It is planned that in 2015 the minimum wage will be increased in all three Baltic States: in Latvia from 320 to 360 euro, in Lithuania - from 290 to 300 euro, in Estonia - from 355 to 390 euro.