Minister of Labor: The worst time to raise the minimum wage is in a recession

The head of the Ministry of Labor and Employment Promotion (MTPE), Daniel Maurate Romero, explained that in the context of recession that the Peruvian economy is going through, there is no room to discuss a possible increase in the minimum vital remuneration (RMV). Likewise, he noted that the Government is aiming to recover and get out of the recession with various measures, seeking stability to generate greater private investment.

“Technical indicators say that the worst time to increase the RMV is a recession scenario. When there are economic problems in the country, we all suffer and, mainly, the poorest; because this puts the country at risk and the possibility that poverty and extreme poverty will grow, that workers will not have higher incomes, that the minimum living wage will not grow,” said Minister Maurate upon leaving an activity that It was held in commemoration of workers in the construction sector.

In addition to this, he said that now between workers and employers the common interest must be sought: to grow economically and get out of the recession, and that there is the potential to achieve this. The minister also maintained that the Minister of Economy and Finance has indicated that the GDP will show a recovery in the first quarter of 2024; Therefore, once the current situation is reversed, it will be a good time to return to the issue within the framework of the National Labor Council (CNT).

“Interestingly, in recent months, the formality of the payroll has grown, I hope that the next indicators are not negative and we continue to grow. But I can assure you that this situation we are experiencing is circumstantial, it is momentary. Soon, we will get out of this recessionbut it has to help us all to do our bit,” said Maurate.