Luxembourg - the country with the highest average salary in Europe, Bulgaria - at the opposite pole

Luxembourg, the financial services capital of Europe, has the highest average hourly wage (47 euros) on the continent, and is also the country with the highest GDP per capita in the region, according to a visualcapitalist.com analysis, which cites a Eurostat statistics.

The mentioned source shows that the Scandinavian countries Denmark and Norway pay 42 and 41.7 euros/hour, respectively, and Sweden, with 26 euros/hour, is in the middle of the ranking.

Bulgaria registers the lowest average salary in Europe, at 8.1 euros/hour, according to the cited source. Before Bulgaria, in penultimate place, is our country, with 10.4 euros/hour, followed by Latvia (10.7 euros/hour) and Hungary (11 euros/hour).

The map shows that Northern and Western Europe have higher average wages than Southern and Eastern Europe, reflecting differences in economic development and wealth.

The reality presented in the ranking was not always the same, so the Mediterranean civilizations used to be some of the richest in the world, benefiting greatly from the access of the sea to the countries of North Africa and the Levant. But in the 16th and 17th centuries, Atlantic trade opened access to much larger markets, stimulating economic growth and the accumulation of wealth for the western half of Europe.

The average salary map is also a reflection of the cost of living, influencing purchasing power, lifestyle choices and overall economic conditions for individuals and families, according to visualcapitalist.com.

• Bulgarian economists: "No EU member state entered the euro zone with a minimum wage of less than 500 euros"

Economists in Bulgaria draw attention to a critical disparity: no EU member state entered the euro zone with a minimum wage of less than 500 euros, Novinite informs. This reality underlines the economic difficulties faced by Bulgaria and underlines the need for a significant improvement to reduce the gap with European states.

Vasil Velev, the president of the Industrial Capital Association, expressed his fears regarding the low growth of the Bulgarian economy compared to other states in Central and Eastern Europe (CEE). Although Bulgaria is making progress, the pace is insufficient, leading to a widening gap between productivity and living standards.

"Other CEE states have significantly surpassed us. They are already approaching the EU average. The GDP per capita must be increased in order to improve the competitiveness and living standards of the Bulgarians", said Velev, in an interview granted to bTV, notes Agerpres.

And Lyuboslav Kostov, the chief economist of the Confederation of Independent Trade Unions in Bulgaria (CITUB), declared himself concerned about the country's economic performance, stressing the need to register a growth rate of the economy higher than the European average, in order to facilitate real convergence with the EU.

• Greece increases the minimum wage to 830 euros per month

The monthly minimum wage in Greece is increased by 50 euros, or 6.4%, up to 830 euros, the conservative Government in Athens recently announced, this being the fourth increase in the last five years, according to Reuters.

Hundreds of thousands of employees will benefit from this increase, which came into effect on April 1, the Athens Executive stated. "The decision comes in support of the workers without affecting the solidity of the economy and the competitiveness of the companies", declared the Greek Prime Minister, Kyriakos Mitsotakis. According to him, the Greek Government intends to raise the minimum wage to 950 euros per month in 2027, notes Agerpres.

Last year, the Greek economy registered an advance of 2%, slightly lower than the Government's forecasts, but well above the average growth of 0.4% in the euro area. For this year, the growth forecast is 2.9%, given that the Greek economy would be boosted by tourism, investment growth and domestic demand.

The Greek government has promised to raise the minimum wage to 950 euros in 2027 and also to increase the average wage by more than 25% to 1,500 euros. At the same time, the Executive promised to increase public sector salaries and pensions.