Labor sector representatives (employers and employees) and members of the National Minimum Wage Council agreed last May 9th on a new proposal for the gradual increase of the minimum wage by 12%.
This initiative, according to ANEP (National Association of Private Enterprise), adresses the technical need to generate a good working environment and to favor the purchasing power of the worker. It was also created to give certainty to the employer as to the next increases.
This proposal consists of a gradual application of an immediate increase of 4% , followed by a 4% on January 2014 and the last 4% on January 1st 2015.
We will be providing further information once this proposal is submitted to the relevant government agency.