President Duque’s proposal to raise the minimum wage by 10.07%.

Our president Iván Duque spoke about his proposal to readjust the minimum wage for the year 2022. The president stated that a 10.07% increase could be achieved, which would leave it at approximately $1 million, of course without taking into account the transportation subsidy.

His words were: “Our goal is that we can reach, we can close an agreement for the workers of Colombia that will allow us to fulfill that dream, which was also a promise of our campaign, to reach one million pesos without the transportation subsidy (…) That is equivalent to an increase of 10.07 %”,

He said that, if the agreement is reached, it would give a “very big message to the Colombian population because it would allow us to have a higher income and stimulate the country’s aggregate demand”. He commented that, if the agreement is reached, it would give a very pleasant message to the population, he also highlighted the attitude and dedication of the country’s business sectors.

The director of the Administrative Department, Víctor Muñoz, of the Presidency of the Republic, emphasized that the work with the business associations has been “joint, supportive and constructive”. The President insisted that, if the increase is achieved, it will be a positive and historic message and that it would be the presentation of the country’s daily efforts.

“We have the economy growing at the highest point in this century with $4.1 million formal jobs protected throughout the national territory, we have also had social programs such as Solidarity Income, Days without VAT, VAT Refund, that is, a great reaction that allows us to stimulate growth in our country. Businessmen made a great contribution this year with the Social Investment Law, where they were willing to contribute for our country to move forward and reactivate. And now I also value the position of this year thinking about the workers of Colombia and we can reach that million pesos in the wage component, which is a historic milestone”,

Duque expects the agreement to be reached during the week of December 13-19 and commented that it would be the highest increase in the minimum wage, in real terms, in 40 years.

Source: Portfolio

https://www.portafolio.co/economia/finanzas/salario-minimo-duque-propone-subirlo-10-07-para-llegar-al-millon-de-pesos-559526