Monthly Wages, opinions in favor and against

Amid the growing doubts about the usefulness of the thirteenth and fourteenth monthly wages, -a process that would be mandatory in the public sector and voluntary on the private one, and would be part of the new Job Relations Code, analysts  in various media, speak their opinions on the measure:

Jaime Carrera, secretary of the Centre of Economic Policy, says that the vast majority of Ecuadorians are not capable of saving, so they would spend all the money and then would have problems in important dates.

Jaime Carrera

Omar Serrano, representative of the members before the board of Biess, believes that the measure is favorable for the economy, but recommended workers to carry a simple record of income and expenses so they know their financial situation and plan on it.

Omar Serrano

Serrano said the extra income could be put in savings account with a 1.41% benchmark rate or fixed term, with interests of 4.53%. For example, if a person saves $ 53 a month in their savings account, at the end of the year, they would have $ 4.2 of interest. If they do it in a policy, they would with $ 13.4 of interest. But he stressed that in the end, it all depends on each person and their capacity to cover the basic basket so they can save or invest with the rest of the money.