The increase of minimum wage for the year 2024 has been a topic of discussion in the Government, as it generates expectations in the working population. The president Dina Boluarte and the Minister of Labor, Daniel Maurate, have expressed their position regarding this crucial issue for Peruvians. However, for this proposal to come to fruition, several discussions, impact analysis and legislative approval are necessary.
In this article, we will explore the Government’s statements, whether the economic context is ideal for said increase and how much the increase proposed by the workers’ unions is for the benefit of the country’s workforce.
What has the Government said about increasing the minimum wage?
He Minister of Labor and Employment Promotion, Daniel Maurate, in an interview for ‘RPP Noticias’ at the beginning of the year, expressed his optimism about Peru’s economic recovery in 2024. This improvement would be the ideal scenario to discuss the increase in the minimum vital remuneration, currently set at S/1,025 . Maurate highlighted the importance of all sectors contributing to making Peru an attractive destination for investment, which in turn would generate more jobs and better salary conditions.
The minister pointed out in a press conference that this year the issue of the increase could be discussed due to the economic improvements pointed out by former economy minister Alex Contreras: “According to the former Minister of Economy (Alex Contreras), this year we are going to get out of the recession; “So, it will be a good time to discuss the (increase in the) minimum living wage,” he pointed.
What is needed for the project to move forward?
For the proposal to increase the minimum wage to advance, it is essential that Peru’s economic situation improves. According to Minister Maurate, if the economy recovers as expected in 2024, an enabling environment will be created to address this issue.
“There has to be consensus and without growth there can be no adjustments in these variables. What we hope is that, when the economy begins to grow again, when we have robust news, a solution can be reached through consensus,” said the former head of economy.
How much is the increase proposed by the unions?
The unions, represented by the General Confederation of Workers of Peru (CGTP) and the Unitary Central of Workers of Peru (CUT), have presented their proposals for increasing the minimum wage.
Gerónimo López, general secretary of the CGTP, in an interview with La República, suggested a progressive increase until reaching the amount of the basic family basket. He initially proposes raising the minimum wage to S/1,500.
On the other hand, the CUT advocates a schedule of increases that allows reaching S/1,500 in a first tranche and subsequently adjusting the salary until reaching the value of the basic family basket, estimated at S/1,660 according to the INEI.
What is the current minimum wage in Peru?
The current minimum wage in Peru is S/1,025. This amount is known as the minimum vital remuneration (RMV) and is the minimum wage that workers in the country must receive. This value is established in accordance with the Government’s economic policies and may be subject to periodic review and adjustment based on various factors, such as inflation and the cost of living.
Source: Larepublica
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