After an exhausting meeting between representatives of the Federal Government and the different trade unions and business associations of the nation, the Ministry of Labor authorized an increase of almost 50% for the Minimum salaryVital and Mobile of Argentine workers.
Specific, salary increase will be 45% and will be paid gradually in four installments throughout the year: 18% will be applied from April 1, another 10% will be implemented in June, 10% in August and the last 7 % in the month of December. With this, the minimum salary monthly will be $47,850 by the end of 2022.
However, Starting in August, the parties may meet again to request another review of the adjustment rate of the minimum salary national. This was announced by the President of the Republic, Alberto Fernández, during the work meeting with the trade unions and business associations.
“With this new salary increase we took the step we wanted to take, since the recovery of purchasing power and the strengthening of the monthly income of our population are the central axis of our government”, said the head of state.
Source: (Telam)
Likewise, he clarified that his administration “does not intend to let the income of Argentines fall” and that “it will seek to improve much more” the economic stability of the population. “We will achieve that the minimum wage is a real remuneration,” added Fernández.
Among the highest salaries in the region
In 2021, the Government of the Republic authorized a year-on-year increase of 52.7% for the Minimum salaryVital and Mobile workers and Argentine workers, which translates to about $33,000 per month (the equivalent of almost 300 US dollars).
The minimum salary Argentina’s monthly monthly payment is the fifth highest in Latin America, only surpassed by Chile (450 dollars per month), Uruguay (433 dollars), Ecuador (400 dollars) and Bolivia (310 dollars).
