Regulatory/market assessment

摘要

1. The national monthly minimum wage increased in January 2022 to US$425 from US$400 in 2020. No changes were made in 2021. President Guillermo Lasso has promised to increase the monthly minimum wage to US$500 by die end of his term in 2025, though this will aggravate the mismatch between wages and productivity even further. 2. In November 2021 the government introduced the Law for Economic Development and Fiscal Sustainability after the Covid-19 pandemic, aimed at promoting economic recovery and aligning Ecuador with reform requirements under its IMF arrangements. Among other measures, the new law allows companies entering into investment contracts with the government for 15 years to take reductions of up to 5 percentage points in the corporate income tax rate.