Nicaragua: Minimum Wage Increases 2.6

In a context of a sharp drop in economic activity, the government decided to increase the minimum wage by 2.63% as of 1 March.

Friday, February 7, 2020

The increase, which was agreed by the Ministry of Labor and which will affect ten economic activities, was endorsed by the authorities on 6 February. Workers in free zones will be the only ones not to be subject to this increase, since wages in this sector were raised at the beginning of the year. reviews that "... The adjustment will be applied at once and not as in previous years when it was distributed over two semesters. That is to say that this year there will be no changes in September as was customary in previous years."

The article adds that "... The Minimum Wage Law establishes that the indicators to be taken into account when setting the wage variation are inflation and economic growth."

This year the working table took into account an inflationary rhythm of 6.1%, which was reported at the end of 2019 and in the case of economic growth the variation of the GDP estimated by the Central Bank was -3.5%.

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