Finally, there was an agreement between the unions and unions regarding the increase in the minimum that will be 16% by 2023. Given the news, President Gustavo Petro said that this should imply that elementary services have a drop next year.
(Read: Mintrabajo signs decree to increase the minimum wage by 2023).
“Neither rents, nor electricity and services, nor transportation, nor food should grow by 13 percent next year. Their prices must come down. The usury rate must be lowered and the public bank credit rate must be the lowest in the market“, the president wrote on his social networks.
Likewise, Petro has stated that the idea that the income and salary of employees rise significantly should not be cause for a rise in prices but production and work.
A project that seeks to de-index various products and services from the minimum wage is currently in the process of receiving comments. Among those, fees, sanctions, fines and others.
For the economist Carolina Soto, it is unlikely that prices do not rise since many companies transfer a higher production cost for the minimum wage at the price charged to final consumers.
(Also: Government does not rule out new oil and gas contracts in 2023).
Regarding transportation, Asocapitales recently assured that there was an agreement between the mayors of the country so that the price of transportation would rise. Regarding leases, for example, se deals with private contracts that depend on the will of the parties.
That is why analysts explain that the rates for goods and services must be updated to avoid losses in the purchasing power of producers. For now there is no clear alternative on what the president will do to avoid large price increases in the country beyond the deindexation that is currently being processed.
(Keep reading: Government will pay $4 billion to the Fuel Stabilization Fund).
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