Ecuador’s President raises basic monthly salary to US$450 by 2023

Ecuador’s president, Guillermo Lasso, announced Wednesday that the Unified Basic Wage (minimum) would rise by US$25 from next January to US$450 per month, in line with a campaign offer that brought him to power in May 2021.

“We increased US$25 to the Unified Basic Wage for next year. This increase will go directly into the pockets of Ecuadorian workers and will improve their living conditions. Our mission is not only to create jobs, but for them to be well paid,” Lasso posted on his Twitter account.

The president added that it is for Ecuadorians and in recognition of their work that he continues to comply with his offer, which consists of raising the basic salary by US$100 in his four years of administration, which means US$25 each year.

The salary increase was made official Wednesday night by an executive decree signed by the president after the National Council of Labor and Wages had not set in a consensual manner the value of the basic salary for 2023.

The new remuneration, which will be in force as of Jan. 1 of next year, benefits workers in general, including small industry, agricultural and maquila workers, paid household workers, craft workers, and micro-enterprise collaborators.