Finance authorizes an additional 1% wage increase in the public business sector. This was announced by the Ministry of Finance on Wednesday.

The Treasury Department announced this Wednesday that it has instructed companies in the public business sector to process an additional 1% wage increase announced in March for public administration.

“The government has given instructions to companies in the public business sector to implement a remuneration policy that provides for a temporary 1% increase for civil servants following the emergency increase in the number of employees in public positions announced in March,” Fernando promotes the ministry. statement.

According to the guardianship, “in an order addressed to the administrations of public sector companies, the Ministry of Finance indicates that in 2023 they can carry out an additional increase in the global payroll up to 1%.” .

“While continuing to enforce remuneration policies in line with the Medium Term Agreement on Income, Wages and Competitiveness, these additional temporary wage increases should be subject to collective bargaining and, within the management options deemed most appropriate, aim to provide an effective nominal profit estimate. for every employee,” he says.

According to the executive, “Together with what is the result of this Agreement, this medium-term pay increase will increase the annualized total payroll to 6.1% in 2023, which includes all effects and components of remuneration compared to the staff costs in 2022, adjusted for the effect of absenteeism.”

A Treasury dispatch addressed to companies in the public sector was signed on Friday and further states that “the implementation of the wage orientation policy should be determined in each company or group of companies through collective bargaining, when they exist.” .

This, he adds, “without prejudice to situations in which collective labor regulation instruments or other legal definitions already warrant the goal of value appreciation.”