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Which government increased the minimum wage the most in the last 20 years?

Which government increased the minimum wage the most in the last 20 years?

After the announcement of the Government of Dina Boluarte about a possible increase in the minimum vital remuneration (RMV) for this year, the workers are waiting for this proposal that will be discussed in the National Labor Council (CNT). In this sense, during the last 20 years, the minimum wage has been increased 11 times by the governments on duty. Next, we invite you to find out in which period the biggest increases occurred.

Minimum wage in Peru: how much has it increased in the last 20 years?

Throughout our history, the presidents of Peru have issued legal provisions to increase the minimum wage and, in this way, improve the quality of life of the population. From 2003 to the present, the RMV has increased by S/615. Next, we tell you what its evolution has been in the last 20 years:

  • Government of Alejandro Toledo: On September 15, 2003, former President Alejandro Toledo formalized the increase in the minimum wage that went from S/410 to S/460, according to Emergency Decree No. 22-2023. Three years later, his government ordered that the RMV be set at S/500 during the last stage of his term.
  • Government of Alan García: Between 2007 and 2011, the government of former president Alan García increased the minimum living wage up to 4 times, which went from S/500 to S/600. Thus, the first increase occurred on October 1, 2007 (S/530), the second occurred in January 2008 (S/550), the third occurred on December 1, 2010 (S/580) and the last one was on February 1, 2011 (S/600).
  • Government of Ollanta Humala: This was the government that raised the minimum vital wage the most. During the five years of Ollanta Humala’s presidential term, this income went from S/600 to S/850. The first increase was made official on August 15, 2011 by means of Supreme Decree No. 011-2011-TR (S/675), the second occurred on June 1, 2012 (S/750) and the third occurred on 30 March 2016 (S/850).
  • Government of Pedro Pablo Kuckzynski: Before resigning from his post, former President PPK signed Supreme Decree No. 004-2018-TR that established the increase in the minimum wage, which went from S/850 to S/930 as of April 1, 2018.
  • Government of Pedro Castillo: On May 1, 2022, former President Pedro Castillo formalized the increase in the RMV that went from S/930 to S/1,025, in accordance with Supreme Decree No. 003-2022-TR. This was the last time a new hike was set.

Which government increased the minimum wage the most in the last 20 years?

The Government of Ollanta Humala increased the minimum wage in the last two decades, since this income went from S/600 to S/850, which is equivalent to 41.67%. In second place is the management of former president Alejandro Toledo, who increased the RMV twice, whose value went from S/410 to S/500, which means a variation of 21.95%. Then follows Alan García, who made the increase in the minimum wage official up to four times, going from S/500 to S/600, which is equivalent to 20%.

Finally, Pedro Castillo and Pedro Pablo Kuckzynski increased the RMV only once during their terms to the following amounts: S/1,025, which is equivalent to 10.21% (2022) and S/930, which means a variation of 9.41% (2018). ), respectively.

Year Minimum wage Variation Government
2003 S/460 12.20% Alexander Toledo
2006 S/500 8.7% Alexander Toledo
2007 S/530 6% alan garcia
2008 S/550 3.77% alan garcia
2010 S/580 5.45% alan garcia
2011 S/600 3.45% alan garcia
2011 $675 12.50% ollanta humala
2012 S/750 11.1% ollanta humala
2016 S/850 13.3% ollanta humala
2018 S/930 9.41% Pedro Pablo Kuckzynski
2022 S/1,025 10.21% Pedro Castillo

What is known about the increase in the minimum wage in Peru?

According to the latest statements by the Minister of Labor and Employment Promotion (MTPE), Fernando Varela, next week the Council of Ministers will present a proposal for the modernization of the minimum wage that must be discussed in the National Labor Council (CNT) to achieve a consensus formula between workers and employers.

Let us remember that in July this space for dialogue was reactivated, which had been suspended more than a year ago after the withdrawal of the business sector. In this regard, the unions propose that the increase in the RMV be S/1,500 and that the debate on the technical aspects begin to determine its periodicity. In addition to this issue, the CNT has debated the implications of Supreme Decrees 001 and 014 and other issues related to formality and decent employment.

As is public knowledge, the minimum wage is S/1,025, an amount that resulted from the increase made on May 1, 2022 by the government of former President Pedro Castillo, through Supreme Decree No. 003-2022-TR.

Source: Larepublica

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