Gustavo Petro announces a 16 % increase in the minimum wage in 2023

The Government of Colombia, unions and employers have agreed on Thursday an agreement to increase the minimum wage by 16 % in the next year 2023, up to 1,160,000 Colombian pesos (227.6 euros).

The tripartite agreement took place on the last possible day for the negotiations to come to fruition. The President of the Government of Colombia, Gustavo Petro, has been in charge of making this announcement, emphasizing that it represents a “recovery of purchasing power”.

“This increase will allow us to boost domestic demand among the most vulnerable sectors. I am convinced that this agreement will make the economy grow beyond the not very optimistic forecast of international organizations, thanks to the reactivation of domestic consumption,” he stressed.

For his part, the president of the Unitary Confederation of Workers (CUT, the country’s main union), Francisco Mlastés, has highlighted the importance of dialogue to reach agreements. “Colombians will be able to improve their purchasing power next year thanks to collective bargaining,” he stated.

In turn, the president of the Colombian Association of Micro, Small and Medium Enterprises (Acopi), Rosemy Quintero, celebrated the achievement of this agreement in a Twitter video, although she recalled that SMEs need support, as they are the companies with a higher concentration of minimum wages.

Source: dpa

(Photo: forbes.es, via web)

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