The Minimum wage in Peru will rise from 1,050 to 1,130 soles (about 280.6 to 302 dollars) as of January 1, 2025, after a technical analysis, said today President Dina Boluarte Zegarra.
“After a professional technical analysis, today I announce that as of January 1, 2025 the Minimum Vital Remuneration (RMV) will increase by 105 soles (about 28 dollars), reaching an amount of 1,130 soles (about 302 dollars),” she said.
She explained that the Executive made the decision to increase the minimum wage after the National Labor Council and the Special Commission on Productivity and Minimum Wage, where employers and workers participate, did not reach a consensus.
“The approved increase is the fairest and the one that comes closest to the middle point,” said the president who promulgated the regulation that makes official the increase in the minimum wage, accompanied by the Minister of Labor and Employment Promotion, Daniel Maurate.
“I appreciate the democratic and technical spirit of the debate, in the absence of such consensus the Executive assumed the responsibility of making the decision based on professional technical analysis and the well-being of all Peruvians, not thinking of cheap populism or political opportunism,” she added.
She maintained that the measure implies a challenge for business sectors, to whom she said that her government will continue working to maintain economic growth.
She also said that she understands the expectations of workers who wanted a greater increase, but explained that a disproportionate increase can put at risk the labor formalization, especially in the micro and small enterprises, which cannot be allowed.
The head of state indicated that, although the increase in the minimum wage is a significant measure in the objective of having a more equitable Peru, it does not end there, it requires putting coincidences above differences to guarantee that economic growth translates into better living conditions for everyone.
“Let us continue forward, working together for a more just, inclusive and prosperous Peru, we will continue to focus on generating conditions for greater investments, for more employment, for a formalization of employment, that is our task,” she said.
The Minimum Vital Remuneration is currently 1,025 soles (about 280 dollars). The last increase was 95 soles, on May 1, 2022, during the government of Pedro Castillo, going from 950 soles to 1,025 soles.
Economic growth
The president said that one of the main objectives of her government is to ensure that economic growth benefits everyone and is perceived in the pockets of workers, because progress must be inclusive.
He recalled that when he took office, he received a country hit by the economic recession, the aftermath of the pandemic, the onslaught of natural phenomena and social protests that paralyzed the country, in the face of which he drew up a path of economic recovery, with clear and determined strategies.
This year, he said, thanks to the effective measures of the administration, this situation was reversed, private investment is recovering, formal employment was restored and the figures of the Economically Active Population (EAP) are showing encouraging growth figures and the informal unemployment rate continues to decline.
"The progress is not a coincidence, it is the result of responsible public policies and a shared effort by all sectors of society," he said after specifying that in this context of economic recovery, the increase in the minimum wage occurs.
More in Andina
(END) FHG / MDV
Published: 12/27/2024