The minimum wage in Mexico per day is 172.87 pesos. The employers’ sector proposes a 15% increase so that it reaches 198 pesos per day, according to the president of the Employers’ Confederation of the Mexican Republic (Coparmex).
The unions propose that the increase be 25% by 2023. Among private sector economists, the consensus is that inflation at the end of 2022 should be 8.5%.
Last Thursday, the discussion began in the National Minimum Wage Commission (Conasami) to determine the percentage increase for the income of formal workers next year.
Expect GDP to grow 3.5%
The president of Mexico, Andrés Manuel López Obrador, estimated on Sunday that the local economy, the second largest in Latin America, will grow at least 3.5% in 2022 and that it will repeat the same pattern in the next two years.
The Mexican Gross Domestic Product (GDP) grew slightly below estimates in the third quarter, given a slowdown in all its components, mainly industrial activity, which exports most of its production to the United States.
The result, according to analysts, supported the forecast that GDP will grow by 2.7% throughout the year. The country is in the dilemma of continuing to increase its key rate to attack high inflation -the highest in more than two decades-, although this could slow down economic activity.
With information from Reuters.
