RIGA, Oct 27 (LETA) - Saeima in the final reading today adopted amendments to the Labor Law, increasing the monthly minimum wage from EUR 500 to EUR 620 as of January 1, 2023.

The amendments also provide that the minimum wage will be increased to EUR 700 as of January 1, 2024.

The law stipulates that the official decision in increase of the minimum wage in the Cabinet of Ministers regulations should be adopted by the government.

As reported, Wefare Ministry's parliamentary secretary Evita Zalite-Grosa (Conservatives) said earlier at the parliament social and labor affairs committee meeting that the minimum wage had been discussed for years, but the National Tripartite Cooperation Council had not been able to reach a decision on the matter.

The amendments were submitted by Conservatives MPs Krisjanis Feldmans, Sandis Riekstins, Janis Butans, Reinis Znotins and Evita Zalite-Grosa.

The MPs point out that increasing the minimum wage is one of the tools to reduce poverty among employed residents. The minimum wage in Lithuania is EUR 730 and in Estonia 654.