The Minister of Labor and Employment Promotion (MTPE), Daniel Maurate confirmed that the Government will declare an increase in Minimum Vital Remuneration (RMV) before the end of 2024.
According to the head of the sector, the necessary processes to address this measure have already been completed and meetings were held with representatives of employers, workers and President Dina Boluarte, who now has the technical report and the positions of the parties involved.
“We have completed the entire process, we have already informed the president. We have given you the position of the workers, you have also heard the position of the employers. “You already have the entire report regarding the increase in the Minimum Living Remuneration, and this announcement will probably be made before the end of the year,” Maurate indicated in statements to the press.
The proposed increase would raise the minimum wage at S/1,330that is, S/305 additional to the current amount, with the objective of reducing the gap compared to the Basic Family Consumption Basket. This proposal has been promoted mainly by the representation of workers, among them the General Confederation of Workers of Peru (CGTP).
THEY QUESTION POSSIBLE INCREASE
Given the recent announcement, the Union of Trade Unions of Peru, which includes organizations such as ADEX, CANATUR, the Lima Chamber of Commerce, and the National Society of Industries (SNI), has expressed its concern about the lack of consensus in the Council National Labor Organization (CNT) before making a decision on the matter.
According to the statement, an increase in the minimum wage without an adequate analysis of the benefits and harms would only benefit a small group of formal workers, while around 5.9 million Peruvians who earn below the minimum wage would see their opportunities to become formalized reduced.
The unions remember that, from 2007 to October 2024, the RMV has increased by 105%, exceeding the increase in inflation, which was 82%. At the same time, multifactor productivity, measured by the Ministry of Labor, has presented negative results in recent years, affecting the performance of companies.
The statement also cites the Central Reserve Bank of Peru, which recently estimated that the minimum wage should be 726 soles, 41% less than the current figure, which for the unions shows an overestimation.
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