Economy

Chile presents minimum income project for vulnerable families

Chilean Minimum Emergency Income needs to be approved by the Congress; it has the potential to benefit about 1.78 million families

Chile's President Sebastián Piñera.
Chile's President Sebastián Piñera. Photo: Chile's Government

Chile‘s government presented a minimum income project for vulnerable families affected by the coronavirus economic crisis. The ‘Minimum Emergency Income‘ targets 60% of the most vulnerable families in Chile that obtain most of their income from informal jobs.

READ ALSO: Brazil will give financial aid of up to BRL 1,200 to low-income families

Chilean President Sebastián Piñera presented this Monday a minimum income bill, which will be sent to Congress in the next few days, as reported by Chilean newspaper Diario Financiero. This benefit will be conceded during three months. According to Valor, this measure will have a monthly fiscal cost of $300 million to Chilean coffers. About 1.78 million families are expected to receive the benefit, if the project is approved by Congress.

This wage guarantee to citizens has also been adopted by Brazilian government, which is giving BRL 600 ($113) during a quarter for 60 million informal workers. Brazilian program should cost BRL 98.2 billion to the government and has the potential to reach 54 million informal workers, self-employed and unemployed in the country.