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.
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Avil Ramírez Mayorga
Associate
CENTRAL LAW in Nicaragua
