Julio Velarde rejects Congress approving a law to increase the minimum wage without taking into account technical criteria

Julio Velarde rejects Congress approving a law to increase the minimum wage without taking into account technical criteria
Julio Velarde rejects Congress approving a law to increase the minimum wage without taking into account technical criteria
BCR President refers to the salary increase proposals promoted by Congress. | Photo composition: Infobae Peru (Camila Calderón)

After AFP and CTS withdrawal promoted by the Congress of the Republic, Initiatives were presented focused on increasing the minimum wage in order to increase its low popularity, especially at the gates of the 2026 Elections. Unlike the previous ones, the Legislative Branch does not have the power to do so, so they are reduced to being declarative; a fact that confuses the population and plays with their hopes.

In this regard, the president of the Central Reserve Bank (BCR), Julio Velarde, agreed with the head of the Ministry of Labor, Daniel Maurate, who stressed that the Decision on minimum wage should be based on technical criteria and not politicians.

“I don’t think it’s up to Congress to set the minimum wage. It has always been up to the Executive and it should consult a commission,” the official explained to the media.

Julio Velarde spoke out in favor of increasing the minimum wage in response to the position of the Minister of Labor | Andina (Infobae Composition)

It is worth mentioning that, previously, the head of the BCR had already mentioned that the process should be based on “clear criteria” and not on a political decision. “What we have always sought is that there are clear criteria for increasing the minimum wage, that it is not a political decision. And every two years, or the period that is established, it is adjusted. More than before elections or for political reasons. That it is more predictable. Also seeing what happens in the labor market,” he said during the presentation of the June 2024 inflation report.

From within the country, the head of the Ministry of Labor, Daniel Mauratesaid that the discussion on salary increases should be based on technical criteria and a consensus between employees and employers.

“The idea is that it is a consensus between employers and workers and that It is not a political decision, much less a populist decision.“There should not be an increase in the minimum wage from a political point of view, but rather from a technical one,” he told the media.

“Large companies pay more than 3 thousand soles, medium-sized companies pay more than 1,500 soles, where the highest amount of minimum wage is found is in micro-enterprises. Therefore, if we raise the minimum wage irresponsibly, what will happen is that micro-enterprises, which are trying to formalize and which we must give facilities to continue on that path, will go backwards, which is why the increase must be a consensus looking at the technical side,” he added.

The head of the Ministry of Labor considered that the increase should not be considered from a political point of view. | Canal N

He reiterated that he is not against a possible salary increase; however, it should not be taken lightly, since “it is linked to the growth of the country’s economy.”

“If we continue to grow, the second half of this year will be a good time to discuss the increase in the minimum wage at the National Labor Council,” he said.

In Congress, Luis Gustavo Cordero Jon Tayin the process of joining Popular Actionproposed that the new RMV be at least S/1,500, which would mean an increase of S/475 compared to the current amount. At the same time, Waldemar Jose Cerron Rojasfrom Peru Libre, suggested that the increase be 30% of the Taxable Unit (UIT), placing the new RMV at S/1,545.

 
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