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There is a forecast that the minimum wage will increase by 7.65%, according to the Lula government team. Find out the details!
The economic team of the government of Luiz Inácio Lula da Silva forecasts a 7.65% increase in the minimum wage, raising the amount to R$ 1,421. This forecast is included in the 2024 budget proposal (PLN/29/23), which was submitted to the National Congress last August.
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At the moment, the national base amount stands at R$ 1,320, having undergone its latest adjustment on May 1, in celebration of Workers' Day. Keep reading to stay informed about the proposal for the coming year.
With a 7.65% increase, the 2024 minimum wage could reach R$ 1,421
According to the proposal, revenue is estimated to cover expenses of 2.2 trillion, resulting in fiscal balance. Experts from the Ministry of Finance indicate a surplus of R$ 2.8 billion. However, under the new fiscal framework, this target will only be achieved if there is a deficit or surplus that does not exceed R$ 29 billion.
In terms of the projected minimum wage, the amount represents an estimate, as it is based on factors such as the annual variation of the INPC through November. In addition, the 2022 GDP, recorded at 2.9%, must be incorporated.
For 2024, a budget of R$ 5.5 trillion is projected. This includes public debt expenditures and the R$ 151.3 billion portion allocated to investments in state-owned companies.
What is Minister Haddad’s view on the 2024 Budget?
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According to the Minister of Finance, Fernando Haddad (PT), the tax revenue estimates prepared by the Federal Revenue Service for the 2024 Budget proved prudent. For the minister, such cautious forecasts may result in unexpected benefits soon.
The project has a positive outlook. In light of the estimates, figures from the economic sector, including Haddad and the Minister of Planning and Budget, Simone Tebet (MDB), confirmed the 7.65% adjustment to the minimum wage. However, it is vital to mention that the National Congress is still reviewing the 2024 Budget.
