It is not yet the right time to raise the Minimum Vital Remuneration (RMV), according to the banker.
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The president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, emphasized that It is not ideal to raise the minimum wage in Peru.
In his opinion, despite recovering employment levels compared to the year prior to the coronavirus, informality has grown. According to the National Institute of Statistics and Informatics (INEI), adequate national employment fell from 9 million 558,000 to 9 million 275,000, while underemployment went from 7 million 574,000 in 2019 to 8 million 481,000 Peruvians at the end of 2022.
“The confinement in a country without rigidity in social security absorbed and ate working capital (…) and made wages lower than what we had before the Covid”, he narrowed.
Along these lines, he assured that the salaries they grow “not because of laws” but “because of the greater demand for work” and, therefore, raising it now “would impact the generation of jobs”.
Source: Larepublica
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