September 22, (THEWILL) –Â Argentina on Tuesday raised the country’s minimum wage to 31,104 Argentine pesos ($316.51) a month starting in September, in a series of graduated increases in salaries.
The amount is over N170,000 with the current value of the Nigerian naira and it answers to the persistent inflation that has eaten away at purchasing power.
In October, the minimum monthly wage will rise to 31,938 Argentine pesos, and then to 32,616 Argentine pesos in February 2022, the government promised.
Overall in 2021, the minimum wage will have risen 55.3 percent, Economy Minister Martin Guzman said on Twitter.
“Today, the salary is a little bit more fair,” President Alberto Fernandez said.
The increase in the minimum wage is in line with inflation as prices in Argentina have risen.
In October 2020, demonstrators had taken to the streets to make demands an increase in the minimum wage, welfare plans and jobs, during the spread of the coronavirus disease (COVID-19).
