Fitch se suma a las alertas por el salario mínimo y advierte que elevará presión fiscal y gasto público

TL;DR

Fitch Ratings identifies potential inflationary pressures and increased public spending due to Colombia's 23% minimum wage hike.
The wage increase may be counteracted by a more restrictive monetary policy, potentially dampening consumption rather than stimulating it.
Colombia's inflation has remained above the target rate since July 2021, and the wage increase is expected to add pressure from both demand and supply sides.
Market expectations for inflation and interest rates are rising, with local bond yields suggesting an implicit inflation close to 6% for the next year.
The fiscal deficit is projected to be higher than initially estimated, with the minimum wage increase contributing to additional spending and potentially impacting tax revenues.
Fitch anticipates that the deficit target will not be met, projecting a level of 7.5%, and views the minimum wage increase as an additional risk to macroeconomic stability.

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