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LatinNews Daily - 04 January 2021

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In brief: Brazil hikes up minimum wage

* Brazil’s President Jair Bolsonaro has sanctioned an increase to the 2021 monthly minimum wage, which is now set at R$1,100 (US$212). The 2021 national budget, which outlines the minimum wage, is yet to be approved by Brazil's congress, but the budgetary guideline law (LDO) – which was approved in mid-December and sanctioned by Bolsonaro on 31 December2020 – had set the minimum wage at R$1,088, up from R$1,045 in 2020. Bolsonaro separately issued a provisional decree (MP) increasing this figure to R$1,100, a 5.26% increase on the 2020 minimum wage, in reaction to inflationary pressures. The government may still adjust the minimum wage to guarantee purchasing power following the release of December 2020 inflation figures later in January.