Macroeconomy/Finance

Government confirms ARG$4,000 increase for private-sector workers

Labour Minister Claudio Moroni confirmed a lump sum 4,000-peso increase for private-sector workers with 3,000 pesos falling due with this month’s wage and the rest in February. It is not considered a bonus since it is to be incorporated into the basic salary. According to Moroni’s calculations, this extra payment will permit the lowest-paid fifth of the workforce or some 1.3 million workers to regain the purchasing-power lost last year. An announcement for public sector workers is expected later this week.

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Source: Buenos Aires Times