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Increases the unified basic salary by 2024 in Ecuador
Posted On 16 Dec 2023
The Ministry of Labor reported that, by 2024, the Unified Basic Salary (SBU) will increase to USD 460 per month, that is , increases by USD 10 compared to that of 2023. The head of that State portfolio, Ivonne Núñez, explained to El Telégrafo and Ecuador Tv, that this decision is made after the National Council of Labor and Employment< /span> could not reach an agreement.
The National Government announced the payment of the thirteenth salary for the public sector.
Núñez explained that the law contemplates and gives the fpower to the Ministry of Labor that, when there is no agreement, compliance with of article 118 of the Labor Code to establish this increase. As such, he explained that the decision was made after extending the time to be able to issue the decision, a time that ended on December 22, 2023 and taking place in the report of the Ministry of Economy and Finance.
He added that the increase of USD 10 was based on the inflation projection for 2024 which will be 2.7.
“There a rule of three applies: the last unified basic salary (USD 450) multiplied by 2.7 and divided by 100 and from there comes the value that the Ministry of Labor takes and establishes for the salary increase.”; detailed Minister Núñez.
This increase will represent more than USD 5.2 million monthly increase to the General State Budget and assured that it is fully financed in a technical and responsible manner as requested by President Daniel Noboa.
Payment of tenths to the public sector
The Minister of Labor, Ivonne Núñez, announced that this Friday, December 15, 2023, the National Government accredited the amount corresponding to the thirteenth salary for the public sector. The Secretary of State assured that by this day the employees will have this money credited to their savings accounts.
Núñez assured that it was a challenge to be able to fulfill this obligation because “the Ministry of Economy and Finance found itself with a box that only contained USD 200 million”avoid State debt.. In an interview for El Telégrafo, the official emphasized that depositing these amounts was thanks to the technique implemented by the Government.
