The minimum wage in Mexico per day is 172.87 pesos. The employer sector proposes an increase of 15% to 198 pesos per day, according to the president of the Federation of Employers of the Republic of Mexico (Cobarmix).
The unions propose that the increase should be 25% by 2023. Among private economists, there is a consensus that inflation at the end of 2022 should be 8.5%.
Last Thursday, the discussion began at the National Minimum Wage Committee (Konasame) to determine the percentage increase in the income of formal workers next year.
Expected GDP growth of 3.5%
Mexico’s President Andres Manuel Lopez Obrador estimated Sunday that the domestic economy, the second largest in Latin America, will grow by at least 3.5% in 2022 and that it will repeat the same pattern in the next two years.
Mexico’s Gross Domestic Product (GDP) grew slightly from estimates in the third quarter, given a slowdown in all of its components, especially industrial activity, which exports most of its production to the United States.
The result, according to analysts, supported expectations that GDP will grow by 2.7% over the year. The country faces the dilemma of continuing to raise its core rate to counter rising inflation – the highest in more than two decades – even though this may slow economic activity.
With information from Reuters.
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