Colombia to base minimum‑wage increases on inflation and productivity

Future finance minister Miguel Gómez Martínez said the next government will set minimum‑wage rises mainly on two variables – inflation and the country’s productivity growth. He warned that raising wages above those indicators could hurt companies’ competitiveness, limit job creation and push more workers into informal employment. Gómez Martínez added that a higher minimum wage alone does not guarantee poverty reduction; sustained income growth depends on a more efficient economy with greater investment, innovation and productivity. The comments outline the approach that President‑elect Abelardo de la Espriella is expected to take in the 2027 minimum‑wage negotiations, emphasizing technical and economic criteria over politically‑driven hikes.