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COLOMBIA: 2025 Minimum Wage Discussion In Focus

COLOMBIA
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  • No macro data are due today, with October unemployment figures to follow on Friday, when the central bank will also hold a non-monetary policy board meeting.
  • Meanwhile, local media report that discussions around the 2025 minimum wage increase are continuing, with unions reportedly disagreeing with a proposal from Finance Minister Bonilla that the starting point for discussions could be for an increase of 6.2%. Formal meetings on the matter are due to begin next week.
  • Separately, Bloomberg highlights a report from the National Association of Financial Institutions (ANIF) in Colombia, which raises concerns over the drop in tax collections this year. Collections are down 8.2% so far this year, which suggests caution should be taken with regard to next year’s forecasts. While some of the shortfall may be due to advance payments in the previous tax year, which weighed on collections this year, ANIF also notes that the slowdown in several sectors, including hydrocarbons and industry, has dragged on tax collections in recent years.
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  • No macro data are due today, with October unemployment figures to follow on Friday, when the central bank will also hold a non-monetary policy board meeting.
  • Meanwhile, local media report that discussions around the 2025 minimum wage increase are continuing, with unions reportedly disagreeing with a proposal from Finance Minister Bonilla that the starting point for discussions could be for an increase of 6.2%. Formal meetings on the matter are due to begin next week.
  • Separately, Bloomberg highlights a report from the National Association of Financial Institutions (ANIF) in Colombia, which raises concerns over the drop in tax collections this year. Collections are down 8.2% so far this year, which suggests caution should be taken with regard to next year’s forecasts. While some of the shortfall may be due to advance payments in the previous tax year, which weighed on collections this year, ANIF also notes that the slowdown in several sectors, including hydrocarbons and industry, has dragged on tax collections in recent years.