Government proposes minimum wage of R$ 1,294 for 2023

The Jair Bolsonaro government has proposed a minimum wage of R$1,294 for 2023, according to next year’s Budget Guidelines Bill (PLDO). If the figure is confirmed, it will be the fourth year in a row without a real increase. The proposal was sent this Thursday (14) to the National Congress, the last day provided for by the Federal Constitution.

Earlier, the Ministry of Economy canceled the press conference that would present the Budget data for next year, due to the delay in finalizing the text.

The national floor serves as the basis for the payment of benefits from the National Institute of Social Security (INSS). If the value is confirmed, it will be R$ 82 higher than the current minimum wage, of R$ 1,212 – which represents an increase of 6.7%, precisely the National Consumer Price Index (INPC) provided by the Ministry of Economy, done in March.

In practice, the increase in the minimum wage only replaces the loss of inflation during the period. However, if inflation is different than estimated, the value of the minimum can still change. The Executive has until December this year to define the number.

Parameters for GDP

Also according to the project, the forecast of real growth of the Gross Domestic Product (GDP) is 2.5% for 2023, 2024 and 2025. Inflation would be 3.3% for next year and 3% for both next years.

Source: CNN Brasil

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