The request by workers to raise the minimum wage to $900, according to Raúl Fernández, director of the Micro, Small, and Medium-sized Enterprise Authority (Ampyme), will be impossible to meet for some sectors, increasing unemployment and informality rates in the country. He stated that there is “no human way” for small business owners to handle this increase without adverse consequences that will put the economy at risk; therefore, the discussion must focus on realistic scenarios that benefit all sectors. He mentioned that any “abrupt” move will significantly impact the group because it represents 70% of the local economic engine, meaning it brings together a large number of employers who would be forced to close their businesses for being unable to meet their labor responsibilities. The director of Ampyme hopes that the tripartite table will make a decision based on the country's growth, its inflation levels, and needs. “We have to speak with foundation and objectivity, we cannot throw out figures that we simply believe benefit some, when in truth they are harming the engine of our economy, the micro, small, and medium-sized enterprise,” he affirmed. In this regard, economist René Bracho indicated that establishing a new minimum wage, amid the country's liquidity contraction, will be a challenge because it is not just about aspirations, but about finding a balance between household needs and company treasuries. However, he believes the country needs to improve its equity and competitiveness, addressing the marked difference between urban and rural areas. He detailed that in the metropolitan area, half of salaried people earn less than $773.01 monthly, while in some provinces like Darién, the median salary barely reaches $531.10. He added that labor regulations must be adjusted through a special regime more friendly for SMEs, as labor liabilities are one of their means of subsistence. “I am confident that the labor movement and the business sector will find a figure in common agreement,” he said. The Minister of Labor and Labor Development, Jackeline Muñoz, also hopes that both actors will reach an agreement to make a joint proposal to the Executive Branch. She assured that the members of the table can present their aspirations, but the final decision must consider the country's reality and its potential risks to the economy.
