The Czech Republic’s Ministry of Finance has unveiled its latest economic forecast, projecting a significant increase in the average salary over the next few years. According to the August macroeconomic prediction, the average wage in the country is expected to approach 50,000 crowns next year and surpass 54,000 crowns by 2027.
Looking at the current figures, the average wage in the Czech Republic stood at 43,120 crowns at the end of last year, with a median of 37,086 crowns. The ministry anticipates a 4.7% increase this year, bringing the average wage to 46,246 crowns.
The forecast outlines a steady growth trajectory for the coming years. 2025 a 6.5% increase is predicted, pushing the average wage to 49,233 crowns. The following year, it’s expected to reach 51,761 crowns, culminating in an average salary of 54,179 crowns by 2027. The average wage increased 7% in this year’s first quarter. The ministry attributes this growth primarily to wage increases in the manufacturing, healthcare, and social services sectors.
While the focus is on the rising average wage, it’s worth noting that the minimum wage currently stands at 18,900 crowns. The Ministry of Labor and Social Affairs has proposed an increase to 20,600 crowns for the coming year, further narrowing the gap between minimum and average wages.
As the Czech economy continues to evolve, these wage predictions offer a glimpse into the country’s economic future, suggesting a trend toward higher earnings for Czech workers in the coming years.
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by the team of CzechTrade Shanghai
Source: Czech Daily