“This is a structural factor of the Portuguese economy. The Portuguese economy, unfortunately, has always been a less advanced economy than a substantial part of the economies of the European Union [EU] and the eurozone, especially the economies of central and northern Europe,” said Joaquim Miranda Sarmento.
“We continue to be, within the group of 27, and especially within the group of 20 in the eurozone, unfortunately, still one of the least advanced economies, but this is historical and structural, dating back many decades,” reinforced Joaquim Miranda Sarmento, speaking upon arrival at the Eurogroup meeting in Brussels.
According to the minister, however, there is “nominal and real wage growth [that] is happening in all areas of activity and for practically all professional profiles.”
Portugal has thus “followed a path of convergence, both in economic growth and in wage growth” to try to counteract it, he observed.
“Wages are on average growing in real terms above 4%, and therefore this means that families, in general, […] are experiencing an improvement in their income, their wages, their purchasing power, their standard of living, and this is a path of convergence that the country has to follow,” added Joaquim Miranda Sarmento.
Average salary
The average annual salary for a full-time worker in Portugal was €24,818 in 2024, below the EU median of €39,800, making it the tenth lowest-paid country, it was announced today.
Data published by the EU statistical office, Eurostat, shows that last year the average adjusted annual full-time wage for workers in the EU was €39,800, representing a 5.2% increase compared to the €37,800 recorded in 2023.
In Portugal, this figure was €24,818 in 2024, compared to €23,184 in 2023 and €21,131 in 2022.
Portugal is therefore the 10th country with the lowest average annual wage, surpassed by countries such as Bulgaria (€15,387), Greece (€17,954), Hungary (€18,461), Slovakia (€20,287), Romania (€21,108), Poland (€21,246), Latvia (€22,262), Croatia (€23,446) and the Czech Republic (23,998).
Across all EU countries, the highest average annual adjusted full-time salary was recorded in Luxembourg (83,000 euros), followed by Denmark (71,600 euros) and Ireland (61,100 euros).