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However, it cannot be lower than the initial proposal point adopted by the Council of Ministers. What does the minimum wage depend on? The mechanism for determining the minimum wage is specified in the above-mentioned setting. It ensures an annual increase in the amount of the minimum wage to an extent not lower than the price index forecast for a given year.
The next minimum wage is increased by the forecast inflation rate. And of the year in which the consultations philippines photo editor take place is lower than of the average salary, the minimum salary should be additionally increased by the so-called correction index, . by of the planned GDP growth. The increase in the minimum wage may be higher than the minimum adopted in the law.
The Act also specifies the deadlines for increasing the minimum wage once from January - when the forecast increase in prices of consumer goods and services for a given year is lower than , twice from January and from July - when the forecast price increase for a given year is at least . In the Multiannual State Financial Plan for - adopted by the Council of Ministers , the price index forecast for is . .< span> Based on the provisions of the Act, an initial proposal of the national minimum should be determined.
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