Congress is preparing a proposal to declare the increase in the minimum wage of national interest: how much would it amount to?

In it Congress A new initiative was presented that seeks to declare the increase in the minimum wage of national interest. This measure has been promoted with the aim of improving the quality of life of workers in the country, who have experienced stagnation in their income against inflation and the increase in the cost of living. The bill proposes a significant increase in the basic salary, which could have a considerable impact on the national economy.

The congressman Gustavo Cordero Jon Tay is the driving force behind this legislative proposal. In recent years, the minimum wage in Peru has been a recurring topic of debate, especially in the context of social demands for better working and salary conditions. Although this proposal presented by the Popular Action congressman has the intention of increasing this value, being declarative, it would have no real effects.

How much would the minimum wage be according to the proposal presented in Congress?

Bill No. 8123/2023-CR recommends an increase in the minimum wage to S/1,500. This figure represents an increase of 475 soles compared to the current minimum wage of 1,025 soles. The initiative seeks that this new amount helps workers cover their basic needs, such as food, housing and education. This is what the bill says:

Article 3.- Declaration of national interest and public need

Declare it of national interest and public necessity that the National Council of Labor and Employment Promotion, with the participation of representative organizations of workers and employers, evaluate the increase in the minimum vital remuneration for a concept equal to or greater than S/475, to workers subject to the labor regime of private activity, with which the minimum vital remuneration would go from S/1,025 to S/1,500.

How much is the minimum wage in Peru and when was the last time this value was increased?

Currently, the minimum wage in Peru is 1,025 soles. The last increase was made in 2022, during the government of the then president Pedro Castillo. At that time, the minimum wage was raised from 930 soles to the current figure, marking an increase of 95 soles. This adjustment was implemented with the intention of alleviating the economic burden of workers in the face of inflation and the increasing cost of living.

What salary increase is expected for the public sector and how much is it?

In parallel with the proposal to increase the minimum wage, a salary adjustment has been confirmed for public employees in 2024. This increase has been approved to mainly benefit workers under the regime CAS (Administrative Services Contract). The increase will be a total of 100 soles, divided into two parts: 50 soles starting in January and the remaining 50 soles during the second half of the year. This adjustment aims to improve the working and remuneration conditions of public employees, who have also seen their income affected by inflation and other economic factors.