Poland’s Plan to Skyrocket Minimum Wages Heralds Economic Shift

Poland’s government plans to nearly double the minimum wage over the next parliamentary term will boost price pressure and herald a larger shift to the $586 billion economy traditionally based on low labor costs.

Seeking to bolster support before October’s election, Prime Minister Mateusz Morawiecki on Monday announced the “end of the era of cheap labor” in Poland. The minimum monthly wage is set to rise 78% to 4,000 zloty ($1,017) at the end of 2023. Adjusted for local price levels, minimum wages are already near those in Spain and the U.S., surpassing those in Hungary and Greece.