The legal interest rate for 2024 increases to 5.75%.
The legal interest rate is revised on an annual basis according to a rule decided by law.
Since 2014, the legal interest rate evolved as follows:
Period | %
From 01-01-2014 to 31-12-2014 | 2.75%
From 01-01-2015 to 31-12-2015 | 2.50%
From 01-01-2016 to 31-12-2016 | 2.25%
From 01-01-2017 to 31-12-2017 | 2%
From 01-01-2018 to 31-12-2018 | 2%
From 01-01-2019 to 31-12-2019 | 2%
From 01-01-2020 to 31-12-2020 | 1.75%
From 01-01-2021 to 31-12-2021 | 1.75%
From 01-01-2022 to 31-12-2022 | 1.50%
From 01-01-2023 to 31-12-2023 | 5.25%
From 01-01-2024 to 31-12-2024 | 5.75%
Whoever forgets or neglects to pay an employee’s wages which he/she is entitled to or does not immediately pay the severance indemnity after a dismissal, will be sentenced to pay that amount, plus interest charges calculated at the above rate. These interest charges must be calculated based on the gross amounts from the time when they were due.
