The new minimum wage adjustment in Panama, which will take effect from January 16, 2022 and whose validity will be for two years, was approved by Decree No. 74 of December 31, 2021.
The new minimum wages consider an increase of 1.5% in activities such as agriculture, fishing and cattle raising; 2% in services and supplies, and 5% in domestic service. In the same way, it contemplates segmentations, since workers at banana's plantations will receive a 13% increase in their wages for being a sector in recovery. Regarding the construction and quarrying sector, the increase will be 1% and 2% in activities of energy services, urban care, financial and insurance activities, and social and health services.
Ask about the impact of this decree on your operations, contact Paula Álzate: palzate@cedeymen.com