Friday 19 August 2022

Salaries of 260,000 public employees would be frozen indefinitely

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19 August 2022 - At The Banks - BCCR

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The salaries of more than 260,000 public sector employees are close to being frozen indefinitely, due to the critical situation of public finances.

They will not receive salary increases or cost of living after the public debt exceeds the equivalent of 60% of Gross Domestic Product (GDP). Nor can the Government grant subsidies to the productive sector if the public debt exceeds 60% of GDP, which would occur this year; these extraordinary containment measures would be applied in 2022, reports La Nacion.

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