Latinnews Daily - 28 April 2004

President Lula da Silva will today announce an increase in the minimum wage. The new R$260 (US$89) per month salary, up from the current R$240 (US$83) rate, represents a 1.5% increase above the rate of inflation. The new wage is a victory for the finance minister, Antônio Palocci, who convinced Lula that if the increase were any higher it would provoke an explosion in social-security expenditure. The President will also announce an increase in the 'family salary', which is paid to lower income families to keep their children in school, from R$13.48 to R$22 per child.

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