English
Macedonia ranks ahead of seven European Union member states in terms of the purchasing power of the minimum wage, according to the latest Euronews analysis of minimum incomes in Europe. Although the nominal amount of the mandatory minimum wage in Macedonia is lower than in most of the EU, the analysis shows that due to the lower cost of living, its real value is significantly higher. According to calculations made in purchasing power standards (PPS), the minimum wage in Macedonia reaches 1,142 PPS.
With these results, Macedonia is ahead of seven European Union member states – Malta, Estonia, the Czech Republic, Slovakia, Latvia, Hungary and Bulgaria, which means that the minimum wage in the country provides greater real purchasing power than in these countries.
At the same time, Macedonia is also ahead of Serbia, which is ranked with 1,094 PPS, which positions it among the better-ranked countries in the region in terms of the real value of the minimum wage. Euronews’ analysis compares minimum wages not only by their nominal amount, but also by their real purchasing power, i.e. how many products and services a worker can afford in each country. It is by this criterion that Macedonia performs better than several countries in the European Union.