Luanda — The Cabinet Council approved Wednesday the national minimum wage, set at 70,000 kwanzas and 50,000 kwanzas for micro-enterprises and startups.

The Presidential Decree considered at the 6th Ordinary Session of the Cabinet Council chaired by the President of the Republic, João Lourenço, states that after 12 months, from the date of its entry into force, the amount will rise to 100,000 kwanzas.

According to a press release, with the approval of the national minimum wage, the government intends to seek a balance between the principles of fair remuneration and the dignity of the human person.

It also serves to protect levels of economic activity, employment and formality, and to enshrine more flexibility in setting minimum wages by industry, sector of economic activity and economic groupings through collective agreements, taking into account their level of specialization, productivity and stage of development.

The national minimum wage was previously set at 32,000 kwanzas.

Retired People

The government approved the minimum amount for old-age pension, survivor's pension, disability pension and old-age allowance, set at 70,000 kwanzas.

The decree points out that old-age, survivors', invalidity and old-age pensions above the minimum amount and below the maximum amount are subject to a 25 percent increase. VIC/AMP