Keiko Fujimori announces 15% minimum wage hike to $382 in Peru

Peruvian President Keiko Fujimori announced a significant 15% increase in the minimum wage during her inauguration speech, raising the monthly Remuneration Minimum Vital from 1,130 soles to 1,300 soles (approximately $331 to $382 USD). This measure aims to improve workers' incomes while acknowledging the potential impact on businesses.

To mitigate the financial burden on smaller enterprises, Fujimori stated that the wage hike will be supported by a one-time compensatory bonus for micro and small businesses. This initiative is intended to help these companies integrate more workers into the formal economy and manage the increased labor costs responsibly. "We want better salaries, but also sustainable companies and more formal jobs in this regard," Fujimori remarked, emphasizing a balance between worker welfare and economic stability.

The president also outlined broader plans for social and economic reform. She stressed that fiscal stability is crucial for transforming the country and enabling social policies. Her administration intends to reorganize existing social programs to create a comprehensive protection system aimed at reducing social and territorial disparities. A key goal is to halve child poverty, currently above 22%, with special interventions planned for rural, Amazonian, and indigenous communities.

Furthermore, Fujimori committed to revitalizing public education as a tool for social mobility and reducing educational skill gaps in secondary education. She also announced the progressive implementation of a universal pension for impoverished adults, starting with doubling the "Pensión 65" benefit from 350 soles to 700 soles bi-monthly for those in extreme poverty. Mobile enrollment brigades will be deployed to remote areas to ensure access to this program.