PRAGUE, Nov. 27 (Xinhua) -- Representatives of the Czech coalition government agreed on Wednesday to raise the country's minimum wage by 1,250 crowns to 14,600 crowns (634 U.S. dollars) per month as of next January, according to local media reports.
Czech Prime Minister Andrej Babis later confirmed the agreement, calling it a "good compromise," according to Czech TV.
The minimum wage, which currently stands at 13,350 crowns (580 U.S. dollars), was last increased in January this year.
Trade unions demanded for the minimum wage to be increased by 1,640 crowns while employers suggested an increase of 700 crowns.
The negotiations resulted in a pragmatic settlement which should see a modest minimum wage increase of 1,250 crowns per month.
The formal text of the new regulation will be prepared by the Ministry of Labor and then be submitted to the Cabinet for approval.