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The government sent the proposal for the 2024 minimum wage to the National Congress, raising expectations among Brazilians about the increase. Discover more details.
The Lula government, through its economic team, submitted a proposal regarding the 2024 minimum wage to the National Congress for the budget of the same year. As a result, many Brazilians are anxious about the possible adjustment to the base salary.
A common question among citizens concerns the effective date, should Congress approve the proposal. Keep reading and stay informed about the 2024 minimum wage.
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Find out when the 2024 minimum wage is expected to take effect
First, it is important to emphasize that, as announced by the Minister of Planning and Budget, Simone Tebet, the proposal is to set the 2024 minimum wage at R$ 1,421. This represents an increase of R$ 101 compared to the current amount. At the time the proposal was announced, the Minister of Finance, Fernando Haddad, was also present.
Although still pending approval, if accepted, the new minimum wage amount will begin to be applied as of January 2024. The suggested 7.7% increase in the base income changes the proposal contained in the Budget Guidelines Law (LDO), which Congress received in April. In the previous document, a minimum wage of R$ 1,389 was proposed for 2024.
Find out more about the suggested 7.7% increase in base income
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The proposal to set the minimum wage at R$ 1,421 for 2024 already complies with the current adjustment rule. The amount takes into account the inflation forecast through November 2023, based on the National Consumer Price Index (INPC). Additionally, the R$ 101 increase also reflects the growth in Gross Domestic Product (GDP) over the past two years.
