Brazilian President Announces Minimum Wage Increase

Brazilian President Luis Inácio Lula da Silva. Feb. 16, 2023.

Published 16 February 2023

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The regulation will be confirmed nationwide on the occasion of International Workers' Day, May 1.

Brazilian President Luis Inácio Lula da Silva announced on Thursday that the minimum wage in the country will be increased from 249 dollars to approximately 254 dollars starting in May.

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"In May we will readjust the value of the minimum wage to 1 320 reais (254 dollars), and we will establish a new rule for the floor, taking into account, in addition to inflation replacement, GDP growth, because it is the fairest way to distribute economic growth," said Lula.

According to the President, an agreement has been reached with the social movements, the Ministry of Labor and Minister Fernando Haddad for the rule to be confirmed at the national level on the occasion of International Workers' Day, May 1.

The Personal Income Tax (IRPF) table will also be readjusted, Lul said. Those who earn up to 2 640 reais (about 500 dollars) will be exempt from the tax, when the exemption limit is 1 903.98 (about 360 dollars).

O governo anterior mentiu por muito tempo e deixou de governar o Brasil. Nós vamos colocar o país nos trilhos. Voltar a investir em universidades, no Prouni, no FIES, em geração de empregos.
— Lula (@LulaOficial) February 16, 2023

The previous government lied for a long time and stopped governing Brazil. We are going to put the country back on track. Return to investing in universities, in Prouni, in FIES, in job creation.

"We are going to start exempting at 2 640 reais until we reach 5 000 reais exemption (950 dollars approximately). It has to come, because it was my commitment and I will do it," said Lula.

Also announced today was an increase "in undergraduate, graduate, scientific initiation and Permanence Scholarships." Without experiencing any readjustment since 2013, they will now have a 40 percent increase.

Through his official Twitter account, the leader of the Workers' Party (PT) said that this is "an important day for our education, research and science. Brazil will once again value students and our future."