BOGOTA (Reuters) – Colombia’s minimal wage will enhance by 9.54% in 2025, Colombian President Gustavo Petro mentioned on Tuesday, asserting the rise by decree after the failure of an settlement between the federal government, skilled associations and unions of employees.
The minimal wage in 2025 will enhance to 1.4 million pesos ($323.90) per 30 days, Petro mentioned, up from 1.3 million pesos per 30 days this yr.
The rise is decrease than the rise introduced for this yr. On the finish of 2023, the federal government introduced that the minimal wage for 2024 would enhance by 12%.
Enterprise teams and unions had reached an settlement with the federal government on minimal wage will increase for 2022 and 2023. No settlement was reached on the minimal wage this yr.
Colombia’s central financial institution’s technical staff forecasts that annual inflation in Latin America’s fourth-largest financial system will shut this yr at 5.3% earlier than slowing to three.1% by the tip of 2025.
($1 = 4,395.44 Colombian pesos)
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