Peru's Economy Ministry Announces Minimum Wage Rise and Broad Reform Plans

minimum wage economic reforms Peru MEF informal sector

The Ministry of Economy and Finance (MEF) has set up four presidential commissions to drive reforms in informal labor, financial markets, public investment and tax evasion, each led by senior experts. It also approved a transfer of 2.531 billion soles to the Contingency Reserve for the 2026 fiscal year.

The Ministry of Labor and Employment (MTPE) completed its senior team, naming Hilda Sandoval Cornejo as Vice Minister of Labor and Juan Carlos Paz Cárdenas as Vice Minister of Employment. The government plans to raise the minimum wage from 1,130 to 1,300 soles, in two steps of 100 and 70 soles, to be coordinated with MTPE and submitted to the National Labor Council.

Minister of Economy Elmer Cuba proposed a new labor‑tax regime for micro‑enterprises, noting that informal employment reaches about 70% nationally, 90% in micro‑enterprises and 95% outside Lima. He also suggested moving non‑major public holidays to Fridays from 2027 to boost tourism and productivity. Despite the El Niño climate event, the MEF expects Peru's economy to grow 3.5% in 2026.

Entities

Comex Perú · Contingency Reserve · Council Fiscal · Elmer Cuba · Fiscal Council · Lima Metropolitan Municipality · Metropolitan Municipality of Lima · Ministry of Economy and Finance (MEF) · Ministry of Economy and Finance (Peru) · Ministry of Economy and Finance of Peru · Ministry of Labor and Employment (MTPE) · Peru

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[○ 1 SOURCE] The minimum‑wage increase will be coordinated with the Ministry of Labor and submitted to the National Labor Council. lahora.pe
[○ 1 SOURCE] The Ministry of Labor appointed Hilda Sandoval Cornejo as Vice Minister of Labor and Juan Carlos Paz Cárdenas as Vice Minister of Employment. altavoz.pe
[○ 1 SOURCE] Minister Elmer Cuba proposed a new labor and tax regime for micro‑enterprises, noting informal employment at about 70% nationally, 90% in micro‑enterprises and 95% outside Lima. canaln.pe
[○ 1 SOURCE] The MEF plans to move non‑major public holidays to Fridays starting in 2027 to boost tourism and productivity. caretas.pe
[○ 1 SOURCE] The MEF expects Peru's economy to grow 3.5% in 2026 despite the impact of the El Niño climate event. gestion.pe
[○ 1 SOURCE] The MEF authorized a transfer of 2.531 billion soles to the Contingency Reserve for fiscal year 2026. guik.pe
[○ 1 SOURCE] The Ministry of Economy and Finance created four presidential commissions to reform informal labor, financial markets, public investment and tax evasion. gestion.pe
[○ 1 SOURCE] The government plans to raise the minimum wage from 1,130 to 1,300 soles, in two increments of 100 and 70 soles. lahora.pe