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Cabo Verde Government proposes to raise the minimum wage to US$139 per month
Update time: 2017-12-01 00:00:00 [Large  Small]

【 Cape Verde 】

The Government of Cabo Verde (Cape Verde) wants to increase the minimum wage of 11,000 escudos to 13,000 escudos (US$139) per month from 2018, under a proposal announced by the prime minister at the presentation of the State Budget for the next year, which has already been approved in general, according to the local press.

Ulisses Correia e Silva said that the government’s idea is to ensure that the minimum wage reaches 15,000 escudos (US$160) in 2021.

On the occasion, the prime minister said that the proposals contained in the State Budget for 2018 include measures to encourage private investment, entrepreneurship and job creation.

“It is a State Budget aligned with the strategic plan for sustainable development, which will stimulate the private sector and integrate the country into the world economy,” said the prime minister to highlight, in statements to the public broadcaster, the importance of the adoption of the budget in general.

The Cape Verdean 2018 State Budget outlines expenditure of 61 billion escudos (US$653 million) and its macro-economic scenario forecasts a growth rate of 5.5% and a budget deficit of 3.1%.

The document was approved in general with 37 votes in favour from the Movement for Democracy (MpD), 23 against by the African Party for the Independence of Cape Verde (PAICV) and three abstentions by the Cape Verdean Independent and Democratic Union (UCID). (macauhub)


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