Colombia to hike minimal wage by 12% in 2024
BOGOTA(Reuters) – Colombia’s minimal wage will amplify by 12% in 2024, Labor Minister Gloria Ines Ramirez mentioned on Friday, taking the settle to 1.3 million pesos ($340) per month. The amplify within the minimal wage represents a hike of 140,000 pesos ($36.63) per month. The wage amplify comes as the country battles over and over
BOGOTA(Reuters) – Colombia’s minimal wage will amplify by 12% in 2024, Labor Minister Gloria Ines Ramirez mentioned on Friday, taking the settle to 1.3 million pesos ($340) per month.
The amplify within the minimal wage represents a hike of 140,000 pesos ($36.63) per month.
The wage amplify comes as the country battles over and over excessive inflation and an sick economy. Twelve-month inflation to the tip of November hit 10.15%.
The amplify for 2024 is less than the upward thrust within the minimal wage in 2023, when the govt. reached an agreement to steal it by 16%.
The amplify for 2024 changed into no longer agreed with change leaders, without reference to meetings between the govt. and change groups, Ramirez suggested journalists.
“There were discussions and movements by the events, however they were no longer satisfactory to be triumphant in an agreement,” Ramirez mentioned, at the side of that 10 meetings took salvage 22 situation attempting for an agreement.
The dearth of agreement, on the opposite hand, has no impact on imposing the original minimal, which is made up our minds by the govt..
Industry associations and staff’ unions had managed to be triumphant in an agreement with the govt. on minimal wage increases for 2022 and 2023.
The hike to the minimal wage comes as Colombia’s economy stalls.
The central bank’s technical group had hiked its 2023 convey outlook to 1.2% on the tip of October, however the economy shrank 0.3% within the third quarter versus the year-earlier duration, prompting bank chief Leonardo Villar to warn that the forecast changed into unlikely to be met.
($1=3,822.05 Colombian pesos)
