Argentina’s annual salary negotiations have started with the first agreement being concluded without a hitch. On 03 March, the retailers union the country’s largest in terms of membership (1.2 million) came to a consensus and sets the tone for other negotiations scheduled to take place until April. More concretely the agreement intends for a 20% wage rise to be paid over the course of months between April and September. Overall this joint agreement is tilted in Liberal President Mauricio Macri’s government’s favor. Elected in December 2015 the President’s teams had called unions to the table and set a maximum wage rise of 25%, gauging that inflation would not exceed that rate in 2016.
Within the next six months unions also intend to fine tune the wage rise until March 2017. The agreement also provides for a payment of 2,000 pesos (€117) paid in two parts (in April and in June). According to ambito.com, a domestic financial information website, the agreement still has to be signed, probably on 14 or 15 March.
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