We are only halfway through the year 2022, but discussions about the minimum wage for 2023 are already under full steam in the National Congress. According to the Federal Government, forecasts for the next update of the national index will follow the levels reached by the inflation. In this sense, there is a probability that the value will undergo changes that do not please Brazilian citizens. Thus, check in this article the new value expected for the minimum wage in 2023.
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The estimated value of the minimum wage in 2023
The minimum wage adjustment for 2023 will take into account the progress of price adjustments across the country. Therefore, the index used to calculate the increase is the INPC, released by the Brazilian Institute of Geography and Statistics (IBGE). The government will only define the new national floor after calculating the inflation of the last 12 months. This application, or price change, is made from January 1st of each year.
Value forecast in 2023
The Federal Government's Budgetary Guidelines Law (LDO) proposal, which was sent to the National Congress for approval, may have disappointed Brazilians. This is due to the fact that the readjustment is only R$82, that is, the minimum wage will change from R$1,212 to R$1,294 next year.
On the other hand, according to data released by the IBGE, the INPC currently shows an increase of 5.61%, with potential to reach 8.1%. If this limit is reached, it is expected that the minimum wage will increase by R$98.17 to R$1,310.17, representing a greater increase.
However, the increase can still be considered too low for workers and does not result in gains significant financial costs for Brazilian workers or beneficiaries of the Instituto Nacional do Seguro Social (INSS). In this sense, it is worth mentioning that this value was not fixed for 2023, and may still undergo changes.
