Colombia announces increase in the minimum wage to 1 million 160 thousand pesos

Colombian President Gustavo Petro announced this Thursday, December 15, a 16% increase in the minimum wage for the year 2023.

According to the president, this represents an increase of 160,000 pesos (that is, about 33 dollars), thus, the minimum wage will be 1,160,000 pesos (about 242 dollars per month).

Petro also announced, through a press conference, that in 2023 the transportation subsidy will also increase and this will be 20%, remaining at 140,606 pesos or 29 dollars.

These increases were achieved after an agreement between workers and businessmen who were at the negotiation table, in which the Government was also present.

The base figure that was held in the negotiations was a 13.77% salary increase, and as a ceiling was the proposal of 20% from the unions.

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