This 2023, in Colombiathe country’s government decided to increase the minimum wage. This is how since January 1, 2023, workers received an increase in their salary. In this context and due to the situation that citizens are experiencing, the authorities are once again discussing the possibility of making another increase for 2024.
In this context, Depor has prepared this note with information in this regard. That is, it indicates the possible amounts, alternative dates and more data on the possibilities of increasing the minimum wage for the country’s workers. Consult all the information
How much will the increase in the minimum wage be in Colombia?
It is still not clear, but currently, Colombian authorities are talking about it and if an agreement is reached, it will most likely occur sometime in 2024.
“With high inflation, we have no doubt that the increase will be in double digits. This figure is contemplated by the behavior that inflation has registered in Colombia, which, although it has decreased, remains above 11%.”comments the Vice Minister of Finance, Diego Guevara.
How much are they going to pay me in the new amount?
The exact date is not yet known, only that it will be sometime in 2024. Keep in mind that the minimum wage was 1,000,000 pesos until 2022 and as of January 1, 2023 it rose to 1,160,000 pesos.
How much is the minimum wage currently equivalent to in Colombia?
Currently, people receive a minimum salary of $1,300,000 ($1,160,000 and $140,000 for the transportation subsidy).