Kotryna Tamoseviciene, head of the central bank's Macroeconomics and Forecasting Division, says such a minimum pay has been calculated based on the formula agreed by the Tripartite Council, adding that the proposal is not to deviate from it. She warned, however, that if the economy slows down, raising the minimum pay will create additional challenges.

"We propose to continue using the formula and we see no compelling reasons to deviate significantly from it. However, we see that, at the moment, there's a high degree of economic uncertainty and the balance of risks to economic growth is negative. Therefore, we would support more cautious decisions, perhaps decision should be made later in the year, or other options should be considered to protect against risks and to be able to assess the changes in the economy if they start to materialize," Tamoseviciene said at the Tripartite Council meeting on Tuesday.