, NICARAGUA – New Minimum Monthly Wage

NICARAGUA – New Minimum Monthly Wage

The National Minimum Wage Commission announced through Act No. 1 CNSM-02/23/203 the entry into force as of March 1, 2023 of the new monthly minimum wages that will govern Nicaragua in attention to the various sectors and economic activities and that will be valid for one year, until February 29, 2024.

In this regard, the new monthly minimum wages are as follows:

 

Economic Sector Valid from March 1, 2023 to February 29, 2024
increase percentage New Minimum Monthly Wage New (approximate) Minimun Monthly Wage in US$
Agricultural 10% C$ 5,196.34 US$143.01
Fishing 10% C$ 7,901.21 US$217.52
Mines and Quarries 10% C$ 9,332.44 US$256.93
Manufacturing industry 10% C$ 6,987.06 US$192.25
Industry subject to special regime 8% C$ 8,098.46 US$223.17
Micro and small craft industry and national tourism 10% C$ 5,474.77 US$150.82
Electricity, Gas and Water; Commerce, Restaurants and Hotels; Transport, Storage and Communications 10% C$ 9,531.14 US$262.56
Construction; Financial and Insurance Establishments 10% C$ 11,628.95 US$320.25
Community, social and personal services 10% C$ 7,284.71 US$200.54
Central and Municipal Government 10% C$ 6,480.04 US$256.93

Please note that these amounts are approximate and may differ slightly depending on the exact exchange rate used.

At CENTRAL LAW, we have an experienced team of lawyers who can advise you in the most diligent and comprehensive manner for the needs of your company, including labor affairs.

For more information, contact us at: info@central-law.com

Avil Ramírez Mayorga

Associate

CENTRAL LAW in Nicaragua

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