President of Colombia announces 9.5% increase in minimum wage

The president of Colombia, Gustavo Petro, announced that the country’s minimum wage will increase by 9.54% from January 1st. Thus, the current value of 1,300,000 Colombian pesos (equivalent to R$1,817) will become 1,423,500 (or approximately R$1,990).

The measure was announced on the 24th. According to the Presidency of the Republic, “the increase aims to improve the quality of life of Colombians, guarantee dignity at work and promote an economy that grows with dignified workers and not with exploitation”.

Still according to the government, the change is “fundamental to combat the inequality that has characterized Colombia as one of the most unequal societies in the world”.

For 2025, the inflation projection is 5%, so in real terms, the adjustment will be 4.5%. This is the third consecutive year that Petro has guaranteed a real increase in the minimum wage. In addition to the amount related to the transport voucher, the minimum wage will be 1,623,500 Colombian pesos (R$ 2,349.50).

Also read: Colombians take to the streets to defend Petro’s mandate

The decision on the decree with the salary increase came after negotiations between the government, workers and businesspeople failed to reach a consensus.

There as here, the business community complained about the measure. One of those who expressed the bosses’ dissatisfaction with the possibility of the new value was Bruce Mac Master, president of the National Association of Businessmen of Colombia (Andi). According to him, the increase would have “negative consequences”.

Petro countered by saying that Mac Master’s thesis “is a sovereign and profound lie” and that “the minimum wage makes the economy grow, not the other way around. It is not with slave workers that a country’s economy grows.”

With agencies