The Colombian government, unions and employers have agreed on Thursday to raise the minimum wage by 16 percent in 2023, to 1,160,000 Colombian pesos (227.6 euros).
The tripartite agreement came on the last possible day for the negotiations to reach a successful conclusion. The President of the Colombian Government, Gustavo Petro, has been in charge of making this announcement, highlighting that it represents a «recovery of purchasing power».
«This increase will allow us to boost domestic demand among the most vulnerable sectors. I am convinced that this agreement will make the economy grow beyond the not very optimistic forecast of international organizations, thanks to the reactivation of domestic consumption», said the president.
For his part, the president of the Confederación Unitaria de Trabajadores (CUT, the country’s main labor union), Francisco Mlastés, stressed the importance of dialogue in reaching agreements. «Colombians will be able to improve their purchasing power next year thanks to collective bargaining,» he said.
In turn, the president of the Colombian Association of Micro, Small and Medium Enterprises (Acopi), Rosemy Quintero, celebrated the achievement of this agreement in a Twitter video, although she reminded that SMEs need support, as they are the companies with the highest concentration of minimum wages.
