El Salvador governor highlights benefits of increasing minimum wage
New minimum wage legislation will improve the living standards of 19.9% of households, says Central Bank of El Salvador governor
Increasing the minimum wage in El Salvador will help reduce poverty, increase consumption and provide a boost to economic growth, the governor of the nation's central bank has said.
Speaking on January 30 at the ministry of labour, Óscar Cabrera said the newly increased minimum wage will benefit a total of 560,093 employees, equivalent to 367,863 households or 19.9% of the country's total households.
El Salvador has the lowest minimum wage in the Central American region after Nicaragua, with 35
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial Stability
Pakistan repays bonds worth $1bn as it seeks fresh IMF loan
Debt-stricken country looks to secure about $6 billion in loans
Australian SMEs face financing drought, RBA official says
Traditional banks are averse to lending to innovative small firms, assistant governor says
MAS partners with Mastercard to tackle cyber risks
Singaporean central bank and payments firm will share information and conduct joint training
Nigerian prosecutors bring new charges against Emefiele
Authorities allege that ex-governor illegally allocated $2.1 billion in FX
New measurement shows ‘historically high’ Canadian financial stress
Financial fragility is concentrated among renters and some mortgage holders, paper says
PBoC steps up funding support for tech development
Central bank sets up a 500 billion yuan re-lending facility for tech firms
Bank of Israel governor warns government over debt
Yaron calls for new committee to determine military budget
A new climate of change
Central banks are warming up to address climate risks just as US interest cools
Most read
- Fixing forecasting at the Bank of England
- Bernanke calls for total redesign of BoE forecasting
- Bank of England: time for fourth-generation forecasting tools?