Guatemala: Wages Adjusted to Productivity
The textile industry presented an economic proposal of salary increases through a productivity bonus.
Thursday, September 10, 2009
Such proposal would increase the daily salary to $8.41 (Q70) via a productivity bonus.
Efforts are growing to minimize the impact of the possible signing of the Trans-Pacific Partnership Agreement, and a tariff reduction program with long deadlines for sensitive products has been proposed.
While the Investment and Employment Law Project is still waiting in congress, the new Minister of Economy announced that they are preparing a "plan B" to maintain incentives for the productive sector.
Although the 2011 figures showed an increase of 13.5%, the sector is losing productive capacity, producing only a third of what was manufactured in 2001.
The export subsidy incentives for Panamanian companies, which would have expired in 2009, were extended until 2015.
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