By: Ana Carolina Barquero
On March 1, 2023, the new adjustment to the Minimum Wage, which was approved by Act number 1 of the Minimum Wage Commission (CNSM) of February 23, 2023, will come into effect in the Republic of Nicaragua, and will be in force from March 1, 2023 to February 29, 2024.
The new salaries are as follows:
| Economy Sector | Effective from March 01, 2023 to February 29, 2024 | ||
| Percentage % | New Monthly Salary | New Monthly Salary Approx. In Us$ | |
| Agriculture and Livestock 1/ | 10% | 5,196.34 | 143.09 |
| Fishing | 10% | 7,901.21 | 217.57 |
| Mining and Quarrying | 10% | 9,332.44 | 256.99 |
| Manufacturing Industry | 10% | 6,987.06 | 192.40 |
| Industry subject to the special regime 2/ | 10% | 8,098.46 | 223.01 |
| Micro and small domestic handicraft and tourism industry | 10% | 5,474.77 | 150.76 |
| Electricity and Water, Commerce, Restaurants and Hotels. Transportation, Warehousing and Communication | 10% | 9,531.14 | 262.46 |
| Construction, Financial Establishments and Insurance | 10% | 11,628.95 | 320.22 |
| Communal, Social and Personal Services | 10% | 7,284.71 | 200.60 |
| Central and Municipal Government | 10% | 6,480.04 | 178.44 |
*1 More Food
*2 Effective from 01/01/2023 to 12/31/2023
For more information on this and other legal issues, contact LatinAlliance Nicaragua, Attorneys and Notaries, at the following email address: abarquero@latinalliance.co