Bolivia's Minimum Wage Hike: Boosting Purchasing Power

Bolivia's government has announced a 10% increase in the national minimum wage following an agreement with the largest union. This measure, aligning with the previous year's inflation rate, aims to safeguard the population's purchasing power, as stated by President Luis Arce during a press conference.

In a strategic move to support workers, Bolivia's government announced a 10% rise in the national minimum wage on Monday. This decision comes after extensive negotiations with the country's largest union.

The wage increase is intended to match last year's inflation rate, thereby maintaining the purchasing power of Bolivia's citizens. President Luis Arce emphasized the importance of this measure during a press conference.

As the economy faces challenges, the government aims to strengthen economic stability and protect its people from the effects of rising prices.

(With inputs from agencies.)