High inflation in recent months made the government raise the forecast for the minimum wage for next year. The 2022 budget bill, sent today (31) to the National Congress, provides for a minimum wage of BRL 1,169, BRL 22 higher than the amount of BRL 1,147 approved in the Budget Guidelines Law (LDO) .
The Constitution determines the maintenance of the purchasing power of the minimum wage. Traditionally, the economic team uses the current year’s National Consumer Price Index (INPC) to correct the minimum wage for the next Budget.
With the rise of basic items such as food, fuel and energy, the forecast for the INPC in 2021 jumped from 4.3% to 6.2%. The value of the minimum wage could get even higher if inflation exceeds the forecast by the end of the year.
GDP
The Budget project has seen little change from next year’s economic growth estimates compared to LDO parameters. The GDP growth projection went from 2.5% to 2.51% in 2022. The forecast for the Extended National Consumer Price Index (IPCA), used as the official inflation index, was maintained at 3.5% to the next year.
Other parameters were revised. Because of recent highs in the Selic (basic interest rate on the economy), the Budget proposal predicts that the rate will end 2022 at 6.63% per year, against a projection of 4.74% per year that was included in the LDO.
The forecast for the average dollar was maintained at R$5.15.
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source https://pledgetimes.com/2022-budget-provides-for-a-minimum-wage-of-brl-1169-istoe-money/
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