Bolivian Government agrees to a 4 percent wage increase | News

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Bolivian President Luis Arce announced on Wednesday night that he will increase the National Minimum Wage by 4 percent and the basic salary for this management of 3 percent, after several hours of talks with the leadership of the Central Obrera Boliviana (COB ).

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“It has been agreed that the increase in the basic salary for this 2022 management is 3% and the increase in the National Minimum Wage is 4%. We know that there is a lot to do,” said Arce.

The Bolivian head of state held a meeting with the leadership of the Bolivian Workers Central (COB) from 5:00 p.m. local time with the aim of reaching an agreement on the issue.



Arce specified in a message on the social network Twitter, that with this measure, the South American nation is returning to the path of growth and economic reconstruction. “We must take care of what we have achieved,” he stressed.

The latest offer from the Government was 1.5 percent of the National Minimum Wage and the basic salary, respectively. However, the workers rejected that proposal and ratified their proposal for an increase of 7 percent to the basic and 10 percent to the national minimum.

Upon reaching that agreement at a union meeting on Wednesday morning, the workers sought to meet with the country’s Executive. According to the COB representative, Juan Carlos Huarachi, President Arce made a political decision to settle the matter, after the meetings of the commissions of both sectors.

With the measure, the minimum wage rises from 2,164 (314.39 dollars) to 2,250 (326.88 dollars) Bolivian pesos, while the basic salary will depend on the official’s salary.

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