#CostaRica 🇨🇷 #BDS_LaborAlert: 6.62% Salary Increase For The Private Sector
The National Wages Council approved a general 6.62% increase for all salary categories in the...
Jan 14, 2025 5:52:19 PM
1 min. read
#Nicaragua 🇳🇮 #BDS_LaborAlert: Increase in Minimum Wage for the Free Trade Zone Regime 2025
The “Tripartite Agreement on Salary, Social Stability, and Labor Competitiveness” was entered into on October 21, 2022 among workers' union organizations (CST-JBE, CUS, CUT), free trade zone business organizations (ANITEC, FCNZFP, CNT), the harness company YAZAKI, the textile company WINNITEX NICARAGUA TEXTIL, S.A., and representatives of the Government of the Republic of Nicaragua, including the heads of the Ministry of Labor and the National Commission of Free Trade Zones (CNZF). This agreement establishes minimum wage increases for all companies subject to the special tax regime for the next five years, from 2023 to 2027.
The new minimum wages come into effect as of January 1 of each year:
|
Year |
Increase |
Minimum Wage |
% |
|
2023 |
C$ 600.00 |
C$ 8,098.46 |
8% |
|
2024 |
C$ 648.00 |
C$ 8,746.46 |
8% |
|
2025 |
C$ 627.00 |
C$ 9,359.46 |
7% |
|
2026 |
C$ 627.00 |
C$ 9,986.46 |
6.7% |
|
2027 |
C$ 670.00 |
C$ 10,656.46 |
6.7% |
Consequently, the Ministry of Labor, through a press release dated December 27, 2020, 2024, let know that from January 1, 2025 to December 31, 2025, employers and workers subject to the free zone regime (industrial parks, tobacco companies, call centers, clothing companies, textile companies, harnesses, agro-industrial sector, shrimp farms, and any other company subject to the Free Zone Regime nationwide) must increase the minimum wage in this sector by 7%.
The current monthly minimum wage for 2025 will be C$ 9,359.46 (nine thousand three hundred fifty-nine cordobas and 46 cents).