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In the following minutes, the national government will announce the final decree where the basic remuneration in Colombia is established.
The increase in the minimum wage in Colombia for 2021 would reach 3.5%, a measure that would be made official in the course of the next few minutes by President Iván Duque, through a decree issued after the failure of the negotiations in the that no agreement was reached at the Salary and Labor Policies Coordination Table.
With the above, the minimum monthly payment will be $ 908,526 and a transportation (or connectivity) subsidy of $ 106,454. In total, the minimum wage plus transportation assistance amounts to $ 1,014,980.
Shortly, the national government will announce the final decree establishing what will be the basic remuneration in Colombia, in addition to the increase in other items such as traffic fines and the price of Mandatory Traffic Accident Insurance or SOAT.
The increase then reflects more the intention of the country’s businessmen and unions in the sense that, taking into account the economic crisis caused by the coronavirus, it was necessary to have an increase no greater than the inflation figure.
It must be remembered that at the time, merchants and large entrepreneurs assured that a percentage even above 3% was a stick in the wheel to guarantee the creation of more jobs during the next year.
Recommended: Colombian businessmen propose a 2% increase in the minimum wage by 2021
This discussion took into account two substantial variables to set the wage increase: on the one hand, a negative labor productivity, of 0.60%, and an inflation that goes to 1.23%, according to records from the National Administrative Department of Statistics (Dane) .
The workers ‘and pensioners’ centrals, it should be remembered, were asking for the minimum wage in Colombia to be $ 1 million, plus a transportation subsidy of $ 120,000, with which the increase would go from 13% to 14%.
However, as the National Government said even at the time, the proposal was not viable precisely because it was considered a difficult burden for national companies to bear.
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