Since the lowest point reached in March, real wages “have recovered 15.1%”, although “they are still 3.9% below” the November 2023 level, noted the Freedom and Progress Foundation.
The wage index in real terms “systematically” exceeded inflation in the last section of 2024but it is still below 2023, according to the public policy research center, Fundación Libertad y Progreso. The report maintains that the recovery of salaries made it possible to reverse “almost completely” the loss derived from the inflationary shock at the end of 2023 and beginning of 2024.
Furthermore, he stated that Since the lowest point reached in March, real wages “have recovered 15.1%,” although “they are still 3.9% below” the November 2023 level.
“A notable aspect is the behavior of salaries in the informal sector. In recent months, it showed strong increases that placed it 6.4% above the level of November of last year,” the report stated. He also maintained that The most vulnerable salaried sector has been “the one that has recovered its purchasing power the most” and, furthermore, “exceeds the purchasing capacity” it had a year ago.
Rebound in economic activity
Regarding economic activity, the report showed “new progress.” “The rapid recovery observed in recent months has led to activity being 5.3% above its lowest point, also exceeding the level of December 2023. That meant an increase of 2.3% compared to the reference,” he said.
Economic activity remains 1.7% below the level recorded in August of last year. However, The Foundation said that it is expected that it “could exceed” that level in the first months of next year.
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“In this way, it is projected that 2024 will close with a GDP contraction of approximately 2.5%, while for 2025 a growth of close to 5% is expected,” expressed the survey.
Finally, he described the deregulation agenda and improvements in access to credit as “fundamental pillars” to sustain economic growth during the coming years.
Source: Ambito
