[Peru] President signs decree increasing monthly minimum living wage

In Peru, the President of the Republic, Keiko Fujimori, has signed a supreme decree to set in motion the gradual increase in the nation’s Minimum Living Wage (RMV) to S/1,300 (about US$381), Andina reports.

The move will impact 600,000 workers and allow economic growth to directly impact their households.

During the ceremony to sign the official document at the Government Palace in Lima, President Fujimori said, "This decision and the supreme decree I signed today will be reflected above all on the tables and in the households of each of the 600,000 workers who will benefit from it." 

She reportedly added that the Government had chosen to implement the measure while respecting the institutional framework, together with dialogue among workers, employers, and the Executive Branch.

"Had we followed past expectations, I could have signed this decision the following day. However, as I clearly told the Cabinet and all Peruvians, this Government will always act institutionally," President Fujimori said.

The president announced that the first stage of the increase will take effect on October 1, when the Minimum Living Wage will rise from S/1,130 (US$331) to S/1,230 (US$360).

The second stage will be implemented after the El Niño phenomenon, bringing the Minimum Living Wage to S/1,300 (about US$381). The total increase will be S/170 (around US$50).

The President reportedly emphasised that the decision takes into account not only workers' circumstances but also the ability of micro and small enterprises to cope with the increase. She announced support for companies with between two and 10 workers.

"We are aware that Peru depends on entrepreneurs and this sector of popular capitalism, which is the engine of our economy. After discussing the matter with the Economy Minister and the Prime Minister, we felt it was important to provide a bonus, a form of support, to give this measure the boost it needs and ensure it can be implemented sustainably," President Fujimori said.

According to the president, these micro and small enterprises will receive a bonus worth S/100 (around US$29) per worker at the end of October, as part of the government’s support to businesses implementing the new minimum.

Source: Andina

(Quotes via original reporting)

In Peru, the President of the Republic, Keiko Fujimori, has signed a supreme decree to set in motion the gradual increase in the nation’s Minimum Living Wage (RMV) to S/1,300 (about US$381), Andina reports.

The move will impact 600,000 workers and allow economic growth to directly impact their households.

During the ceremony to sign the official document at the Government Palace in Lima, President Fujimori said, "This decision and the supreme decree I signed today will be reflected above all on the tables and in the households of each of the 600,000 workers who will benefit from it." 

She reportedly added that the Government had chosen to implement the measure while respecting the institutional framework, together with dialogue among workers, employers, and the Executive Branch.

"Had we followed past expectations, I could have signed this decision the following day. However, as I clearly told the Cabinet and all Peruvians, this Government will always act institutionally," President Fujimori said.

The president announced that the first stage of the increase will take effect on October 1, when the Minimum Living Wage will rise from S/1,130 (US$331) to S/1,230 (US$360).

The second stage will be implemented after the El Niño phenomenon, bringing the Minimum Living Wage to S/1,300 (about US$381). The total increase will be S/170 (around US$50).

The President reportedly emphasised that the decision takes into account not only workers' circumstances but also the ability of micro and small enterprises to cope with the increase. She announced support for companies with between two and 10 workers.

"We are aware that Peru depends on entrepreneurs and this sector of popular capitalism, which is the engine of our economy. After discussing the matter with the Economy Minister and the Prime Minister, we felt it was important to provide a bonus, a form of support, to give this measure the boost it needs and ensure it can be implemented sustainably," President Fujimori said.

According to the president, these micro and small enterprises will receive a bonus worth S/100 (around US$29) per worker at the end of October, as part of the government’s support to businesses implementing the new minimum.

Source: Andina

(Quotes via original reporting)