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Javier Milei raises the minimum wage in Argentina to US$230, less than what workers request

Javier Milei raises the minimum wage in Argentina to US$230, less than what workers request

After failed negotiations with companies and unions, the Argentine president raised monthly remuneration by only 30% in a context where inflation shot up to 254%.

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The president of Argentina, Javier Milei, established an increase in the minimum wage in two tranches: to 180,000 pesos (US$210) for February and 202,800 pesos (US$235) for March, according to his spokesperson.

These data respond to official data and according to CNN, places the country managed by the ultra-liberal economist with the fifth lowest remuneration in Latin America.

Milei’s adjustment, given by decree, is 30%, well below the 85% requested in the debate between unions, business chambers and government representatives, which failed. According to the General Confederation of Labor (CGT) “a long tradition of tripartite social dialogue was broken.”

It is worth noting that from the beginning the president refused to raise the basic salary.

The increase comes after learning that inflation in January, shortly after Milei’s arrival at the Casa Rosada, rose to 254% in interannual terms —and is far from the 211% in December and 160% in November.

ABOUT THE AUTHOR:

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Trained at the Jaime Bausate y Meza University. In constant learning. Economics is the branch of journalism closest to the people and my duty is to be a bridge to information.

Source: Larepublica

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