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Brazilian minimum wage to rise

Date added: 8th January, 2010 at 10:15
(view all articles from January, 2010)

Categories: Economy

Opportunities for investment in Brazil could be encouraged by news that the country is set to raise its minimum wage this year.

As part of its 2010 budget, a spokesman for federal senate president Jose Sarney told Chinese state news agency Xinhua that the rate would rise by around 50 reais (£18) per person.

This will equate to a total investment in Brazil's wages of 1.86 trillion reais.

President of the Latin American country Luiz Ignacio Lula da Silva has been handed a draft copy of the budget, the source revealed. He will look over the proposals when he returns from a holiday in Bahia next week.

Elsewhere in the provisional budget, 94.4 billion reais was earmarked for investment in Brazil's federal state companies.

This news comes after labour minister Carlos Lupi announced that 1.1 million jobs were created in the country in 2009. Mr Lupi predicted that figure would almost double over the next 12 months to two million.ADNFCR-1477-ID-19546581-ADNFCR

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