LatinNews Daily - 15 January 2020

In brief: Brazil minimum wage adjusted for inflation

* Brazil’s President Jair Bolsonaro has approved a new increase in the minimum wage, following higher-than-expected inflation in 2019. Bolsonaro and his economy minister, Paulo Guedes, have announced that the minimum wage will be set at R$1,045 (US$252.83) from 1 February, a R$6 increase on the R$1,039 minimum wage announced on 31 December 2019 (which Bolsonaro had raised from the R$1,031 set in the 2020 national budget). Guedes stressed that this increase aims to maintain the purchasing power of minimum wage earners, and assured that the R$2.3bn expected impact on the government’s budget will be compensated for through other sources of revenue.