Brazil Economy Minister guarantees pension and minimum wage increases

Brazil´s Economy Minister Paulo Guedes said on Thursday (Oct 20) that pension and minimum wage increases will be maintained for next year. The new value, which will come into force in January, should at least cover inflation in Brazil, Guedes explained.

Up to 2019, the minimum wage was adjusted according to the formula that provided for the growth of the Gross Domestic Product of 2 previous years, plus the official inflation rate of the previous year.

The value of the minimum wage, which stands currently at BRL 1,212, also impacts the payment of pensions.

The minister also said that civil service salaries should be increased, once the most critical moments of the pandemic are over.

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