Minimum wage 2025: This is the maximum date that the Petro government has to announce the increase

The beginning of discussions on the minimum wage in Colombia by 2025 has already begun. Businessmen, Government and labor unions have presented their proposals for the increase that will be defined in the coming months.

In the first meetings, initial calculations have been made. The Government has suggested an increase in the 6.2%taking as a reference the inflation projected for November, estimated at 5.2%.

One of the key factors in negotiation is the productivity of the third quarter, which, according to DANE, was 1.73%. This figure is essential to establish a consensus.

“This figure becomes the starting point for the negotiation of the minimum wage for representatives of the government, workers and employers for the year 2025,” said the Minister of Labor, Gloria Ines Ramirez.

Also read: Minimum wage: Labor unions will propose a double-digit increase while businessmen aim for a lower one

How much would the minimum wage increase be in 2025?

According to the preliminary calculations of the Ministry of Finance, the minimum wage could look at $1,385,020which would represent an increase of $85,020 compared to the current one.

However, the Minister of Labor has warned that in the next meetings the figures will be reviewed in detail to determine a proposal that benefits the country.

The labor unions have proposed an increase close to 10%a proposal that has generated criticism. For its part, the National Association of Financial Institutions (Anif) has proposed an increase in 6%.

“We consider that the legal minimum wage (SML) by 2025 should not increase more than 6%. Higher increases not only lack economic justification, but could widen the gap between formal workers and those excluded from formality,” stated the economic studies center.

The discussion will continue in the coming weeks, with the goal of reaching a consensus that balances the needs of workers and employers, while preserving the country’s economic stability.

Of interest: Change your destiny: Keys to investing with a minimum salary and starting 2025 earning good money

The deadline to reach a minimum wage agreement by 2025

Although the meetings continue to reach a agreement between the parties, the Law 278 of 1996 establishes that the maximum deadline to achieve this is December 15. This leaves a margin of six days for the Government and the businessmen reach a joint decision.

If a agreementhe Petro Government will have until December 30 to define the figure through a decree.

It is important to mention that the talks They began on December 3 with the installation of the Productivity Subcommittee and will continue with several sessions until December 30, if required.