According to recent statements made by the head of the Ministry of Labor and Employment (MTPE), Christian Sanchez, before the end of this year a Supreme Decree that will regulate the increase in minimum vital remuneration (RMV) will be issued based in technical criterion.
For these purposes, the formula for the increase of minimum vital remuneration would be conformed by two principal components: the cost of living and productivity; nevertheless, and in accordance with the statements provided by the head of the MTPE, there are details to be adjusted regarding the calculation of the increase, on which there is not consensus yet.
He indicated that in the Technical Commission of the National Labor Council (CNT) the different social actors with their technical teams will have to arrive to a consensus in this regard. However, he said: "When the formula is 100% ready, without any loose ends, it will be incorporated into a supreme decree that will be issued by the end of the year."
How has the Minimum Vital Wage evolved?
Source: Diario Oficial "El Peruano"