Possible increase in the minimum wage in Peru: debate and expectations in society.

The Minister of Economy and Finance, José Arista, has left open the possibility of an increase in the minimum wage for this year, in statements recently made on TV Peru. Although nothing has been definitively confirmed, Arista indicated that it is a topic under evaluation and that the Minister of Labor and Employment Promotion, Daniel Maurate, is convening meetings to address this issue in the coming weeks or months. The minimum wage in Peru was last raised in May 2022, when the government of Pedro Castillo decided on an increase of S/ 95, rising from S/ 930 to S/ 1,025. This increase adds to others made in the last 13 years, such as the one in August 2011, when the minimum wage went up from S/ 600 to S/ 675, and in July 2012 it was raised to S/ 750. Subsequently, in May 2016, during Ollanta Humala's government, it increased to S/ 850, and in March 2018, under Pedro Pablo Kuczynski's administration, it reached S/ 930. The possibility of a new increase in the minimum wage is generating expectations and debates in the economic and social sphere of the country. On one hand, there are those who believe that an increase would be necessary to improve the living conditions of workers and contribute to reducing inequality. However, there are also concerns about the possible impacts this could have on businesses, especially in a context of economic recovery after the effects of the pandemic. In this sense, it is important to carefully analyze the implications of any decision regarding the minimum wage, considering not only the well-being of workers but also the sustainability of businesses and the economy as a whole. It is essential to find a balance that allows for promoting the economic and social development of the country without creating imbalances that could affect in the long term. Additionally, Minister Arista mentioned that he does not have precise information on what will be announced in the upcoming Presidential Address on July 28, but he anticipated that there could be interesting updates. He emphasized the importance of clearly and transparently communicating the actions and decisions being made in the economic sphere, in order to generate confidence and optimism among economic agents. In a context of uncertainty and economic challenges, the discussion on the minimum wage adds to other topics on the public agenda that require a deep and concerted analysis among the different stakeholders involved. The search for consensus and solutions that benefit society as a whole is crucial to progress towards sustainable and equitable development. In the coming weeks, more details are expected to be provided on the possible review of the minimum wage and for a space to open up for dialogue and reflection on this relevant topic for the economy and the well-being of citizens. The decision made in this regard will have a significant impact on the lives of thousands of workers in the country, therefore it is essential that it is made in an informed manner and considering different viewpoints and perspectives.