60% Raise in Brazil’s Minimum Wage Vetoed
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BRASILIA, Brazil — President Jose Sarney has vetoed a 60% increase in Brazil’s minimum wage approved by Congress and instead approved a 36% rise, government officials said Friday.
Earlier this month, the Congress approved an increase in the monthly minimum wage from the current cruzado equivalent of $56 to $90, which would have taken effect in January.
On Thursday, Sarney vetoed the wage approved by Congress and issued a decree for a $76 minimum wage instead, the officials said. He said the $90 wage would would have put inflationary pressure on the country’s battered economy.
Inflation is running near 30% a month.
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