Spain's labour ministry said it will raise the 2027 statutory minimum wage by 5.3%, a change expected to affect about 2.5 million workers. The proposal would set the annual minimum at €18,004 (~$20,244); on a 14-pay basis that equals €1,286 per month. The move still requires approval by Prime Minister Sánchez's cabinet; the government had pledged to announce the increase ahead of the Nov. 29 election. Sánchez has prioritized minimum-wage increases since 2018, when the monthly minimum was €735 (a

Spain's labour ministry said it will raise the 2027 statutory minimum wage by 5.3%, a change expected to affect about 2.5 million workers. The proposal would set the annual minimum at €18,004 (~$20,244); on a 14-pay basis that equals €1,286 per month. The move still requires approval by Prime Minister Sánchez's cabinet; the government had pledged to announce the increase ahead of the Nov. 29 election. Sánchez has prioritized minimum-wage increases since 2018, when the monthly minimum was €735 (annual €10,302). The Bank of Spain forecasts 2.6% GDP growth this year, citing domestic demand, migration-driven labour supply growth and strong tourism.