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The end of the year is approaching, so many people are already wondering if next year's minimum wage will change. To the delight of many, the minimum wage will increase if the proposal from the Ministry of Planning and Budget is accepted.
The idea, according to the minister of the department, Simone Tebet (MDB) is a minimum wage of R$ 1.421 for 2024. That is, an increase of R$ 101 in relation to the current value. See how this proposal is progressing.
Minimum wage increase
Confirmation of the increase happened in a press conference with Simone Tebet and Fernando Haddad (PT), Minister of Finance. The interview aimed to discuss next year's Budget, which has already been sent to Congress. The amount represents an increase of 7.7%.
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It is worth noting that the initial estimate for the minimum wage for 2024 was R$1,389. In other words, if the proposal comes into effect, the increase will be significant.
Valuation
In 2023, when Lula took office, a new policy to increase the minimum wage came into effect. According to this law, each year the government must adjust the value to have a real increase, that is, above inflation.
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In other words, the minimum wage adjustment will be based on the previous year's inflation plus the positive GDP variation of the previous two years. This measure will benefit workers, since the last real increase occurred in 2019.
On May 1st of this year, President Lula set a new value, the current R$ 1,320. This value represents an adjustment of 8.91%, which exceeded the inflation of the previous year (5.93%). Therefore, at least in the next years of Lula's government, workers will have greater purchasing power, since the increases will be above the inflation of the previous year.
Image: Pexels/ Daniel Dan
