Increase in Minimum Wage in Nicaragua

In Nicaragua, on February 29, 2024, it was resolved through Resolution No. 1 of the National Minimum Wage Commission, in accordance with Law No. 625 “Minimum Wage Law,” that the new minimum wages will be in effect from March 1, 2024, to February 28, 2025. These wages are as follows, categorized by sectors:

  • Agricultural sector: 5,721.17 córdobas (C$).
  • Fishing: 8,699.23 córdobas (C$).
  • Mines and quarries: 10,275.02 córdobas (C$).
  • Manufacturing industry: 7,692.75 córdobas (C$).
  • Micro small artisanal and national tourist industry: 6,027.72 córdobas (C$).
  • Sectors of electricity and water, trade, restaurants and hotels, transportation, storage, and communications: 10,493.79 córdobas (C$).
  • Construction, financial establishments, and insurance: 12,803.47 córdobas (C$).
  • Communal, social, and personal services: 8,020.47 córdobas (C$).
  • Central and Municipal Government: 7,134.52 córdobas (C$).

The minimum wage is established by the state, and no worker can receive an amount less than the prescribed minimum. This represents a 10.1% increase, benefiting approximately 200,000 workers in nine sectors of economic activity.

It is of paramount importance to emphasize that the minimum wage for industries subject to fiscal regulation did not experience any increase this year, remaining at 8,746.46 córdobas (C$).

Prepared by: Gabriel Sebastian Rivera

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