The presentation of the Ministry of Economy marks increases of 0.68% in the public sector and 1.22% in the private sector.
Within the framework of Accountability before the Budget Committee, integrated with the Treasury, in Deputiesthe minister of Economy and Finance (MEF), lily arbelecheannounced that the Average Real Wage Index grew by 1.03% during 2022with increases of 0.68% in the public sector and 1.22% in the private sector.
The MEF team highlighted in its presentation that Accountability of 2021 added “a significant volume of resources in priority areas for 2023 and 2024”including the increase in real wages.
In turn, it was noted that the Ninth Salary Round determined an increase in the real salary of one 1.6% and of the 1% in some microenterprises, and that the Tenth Wage Round will complete the recovery of real wages in the coming years.
From the MEF they said that they “fulfilled their promise” to maintain purchasing power and that it sustains a future rise. The Average Index of the Private Real Wage maintains a growth projection of 1.3% for the period 2020-2024.
Likewise, the Average Index of the Real Public Salary will grow in the order of 2.8% in the same period, and according to what is projected, it will be located at 101.5 points (Base 2019=100) in 2023, while the Average Index of the Private Real Wage will be at 99.9 points.
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Graphics: FEM
In the MEF they maintain that the reduction of the IRPF allowed greater income in the homes
On the other hand, the impact of the reduction of the Personal Income Tax (IRPF) as an increase in real income for workers, complementary to the recovery of real wages “already underway”. According to the MEF, this represented a jump in real wages of almost 0.5%based on data from National Statistics Institute (INE).
Another of the variants highlighted by the government portfolio was the positive real variation of the Gross Domestic Product (GDP)which projects an increase of 1.3% for 2023 and 3.7% for 2024, simultaneously with the creation of some 12,000 jobs that are projected for this year.
Source: Ambito
