LA PAZ, April 4 (Xinhua) -- Bolivia's top industry association is urging a nationwide wage freeze in 2025, warning that any wage increase could exacerbate the country's already fragile financial situation.
The National Chamber of Industries (CNI) on Thursday proposed freezing both the minimum wage and base salaries next year, citing rising costs, fuel shortages and a weakening currency that have strained businesses.
"A wage hike would deepen the fiscal deficit and risk macroeconomic stability," the CNI said, warning of an "inflationary spiral."
The association argued that higher wages would increase labor costs, discourage investment and harm competitiveness while encouraging informality and contraband. Bolivia already has one of the highest minimum wages in South America.
The CNI criticized the government for excluding the business sector from wage talks, urging compliance with International Labour Organization Convention 131, which mandates tripartite consultations on wage policy. ■
