“Currently, the Bank of Lithuania has presented a calculation based on the formula of how the MMA could look if we kept the same formula that was considered the basis for the discussion in previous periods. It is likely that the minimum monthly salary will exceed one thousand euros next year, but it is necessary to understand that the situation is not unambiguous and not the same everywhere”, G. Skaistė said to “Žinių radio” on Thursday.
“In part, MMA, as well as wage growth in general, contributes to stimulating the economy, increases people’s purchasing power, but at the same time, there are sectors for which the situation does not look as rosy as for others, where productivity is increasing. (…) Today, it is too early to say what the result will be,” she said.
ELTA reminds that in 2024 The MMA rose to 924 euros before tax, and the non-taxable amount of income (NPD) rose to 747 euros. These changes resulted in the monthly income of the MMA earner growing by 75.22 euros and reaching 708.4 euros.
In the tax reform project submitted by the government to the Seimas, it is indicated that one of the essential goals is the expected unification of NPD and MMA by 2028. In that year, it is estimated that NPD and MMA could reach almost 1200 euros. It is estimated that in 2024 the solution will cost about 200 million euros, and until 2028 its burden on the state budget would reach 573 million. euros.
