On national television, Lula is expected to announce a new minimum wage.| Photo: José Cruz/Agência Brasil

The President of the Republic, Luiz Inácio Lula da Silva (PT), will make a statement on radio and television at 8 pm this Sunday. On the eve of Labor Day, Lula is expected to announce the new minimum wage, which should rise from R$1,302 to R$1,320, starting this Monday (1). The new value of the minimum wage will be made official by provisional measure.

In addition, the president should also announce an increase in the Income Tax exemption range, which will reach R$ 2,640, starting in May. Currently, the IR exemption is up to an income of R$ 2,112. Lula assumed the commitment, while still campaigning for the presidency of the Republic, to gradually raise this amount to R$5,000 during his mandate.

In the same speech, the president should also speak about the rules of the Policy for the Permanent Enhancement of the Minimum Wage, which will be presented by Bill to the National Congress. The project should be processed throughout this year, with the expectation of entering into force in 2024.