In order to avoid that the increase of the minimum salary is subject to political decisions, but consistent with technical mechanisms and periodic evaluations, the Ministry of Labor will promulgate – by the end of the year – the institutional policy of setting the minimum vital remuneration (RMV).
Since it has not yet been established in a standard that allows for an institutional policy to fix the minimum wage (and avoid its fluctuation due to political situations), the goal is to have a norm approved through a supreme decree by the end of the year to determine the salary, Fernando Cuadros, Deputy Minister of Employment Promotion and Labor Training (MTPE), told Gestión.
As for the elements that will be taken into consideration for increasing the minimum wage, “the deputy minister explained that the rule will contain the technical criteria already approved by the CNT (National Work Council) that are to review the minimum wage based on the trajectory of the projected core inflation, which is determined by the Central Reserve Bank (BCR), and the evolution of productivity, which is calculated on a series of official statistics”, informed Gestión.
The objective is to obtain increases based on economic and technical objectives every two years and on certain procedures. “For example, that on a determined date the information is submitted to the CNT for it to be reviewed by the Productivity Commission, with a deadline to approve the increase so that later the MTPE elevates it for the Executive for final approval”, said Cuadros.
(Cover Photo Pxhere)
Now that you're here:
We're asking you, our reader, to make a contribution in support of our digital guide in order to keep informing, updating and inspiring people to visit Peru. Why now? In our near 20-year journey as the leading English-language source on travel in Peru, we've had our fair share of ups and downs-but nothing quite like the challenges brought forth in the first quarter of 2020.
By adapting to the changing face of the tourism and travel industry (on both local and international levels), we have no doubt we will come out stronger-especially with the support of our community. Because you will travel again, and we will be ready to show you the best of Peru.
Your financial support means we can keep sharing the best of Peru through high-quality stories, videos and insights provided by our dedicated team of contributors and editors based in Peru. And of course, We are here to answer your questions and help whenever you need us.
As well, it makes possible our commitment to support local and small businesses that make your visit an unforgettable one. Your support will help the people working in these industries get back on their feet once the world allows us to make our dream of enjoying everything Peru has to offer a reality again-from its mouthwatering gastronomy, thriving Amazon and archaeological wonders such as Machu Picchu.
Together, we will find a way through this. As a member of our community, your contribution, however big or small, is valuable.