11:57 | Lima, Jul. 28 (ANDINA).
Peru's president-elect Ollanta Humala announced Thursday that minimum wage will raise 75 soles as of August 2011, that is, up to 675 soles (246 dollars) and 75 additional soles in 2012 up to 750 soles (274 dollars).
The president noted that the increase of wages must promote a continuous appreciation of the basic wage in accordance with the productivity of economic growth.
Moreover, President Humala noted that his government will adopt a global policy for the reduction of informality and the preservation and strengthening of Small and Medium-Sized Enterprises (SMEs).
Ollanta Humala was sworn in Thursday as the new president of Peru, succeeding outgoing President Alan Garcia.
After addressing the Congress, Humala is scheduled to host an Extraordinary Meeting of Heads of State and Government of the Union of South American Nations (Unasur) at the Government Palace in Lima.
(END) AQR/JPC/LGV/LVT
Published: 7/28/2011