The announcement of the proposal sent to the Consejo Nacional del Salario Mínimo to increase the economic remuneration of salvadorans was made this morning by President Bukele and has been received with enthusiasm by the working class.

With this initiative, approximately 150,000 families will benefit from the increase in the minimum wage, which represents a very significant impact on the quality of life of salvadorans and an action to rescue and support families that have been forgotten for decades.

The head of the Banco de Desarrollo de El Salvador (BANDESAL), Juan Pablo Durán, highlighted the "strong, solid and emblematic" leadership of the President, focused on the welfare of the population.

In addition, in order for companies to enjoy this benefit, they must demonstrate that they are paying their employees the minimum wage and that after the approval of the increase, they are applying it in their payrolls.

In this way, micro, small and medium-sized enterprises (MSMEs) will receive the subsidy from BANDESAL for one year.

"This very good news means that, in the service and industry sector, approximately US$60 will be increased, it is a significant impact, the most significant in recent times", stated Juan Pablo Durán, president of BANDESAL.

He also emphasized that this initiative, which must be approved by consensus between the government, business and workers sectors, is very timely, at a time when the world economy is facing inflation generated by the effects of the Covid-19 pandemic.

He added that the proposal for a 20% increase in the minimum wage is comprehensive, since it contemplates a subsidy for MSMEs and a new delivery of Food Packages, which will neutralize the effect of demand and supply, so that there is no hoarding and price distortion in the market.