Bolivia will raise the minimum wage by 20%, President Evo Morales announced on Monday.
Following talks with leaders from Bolivia's main trade union federation, President Morales also said that the basic salary would go up by 10%.
The increase is well above inflation, which was 6.5% in 2013.
The move has been welcomed by the trade unions but harshly criticised by the employers' federation, who said they had been bypassed in the negotiations.
'Bitter talks'
The minimum salary for public and private sector workers will go up from 1,200 bolivianos ($175; £100) to 1,488 bolivianos.
"There has been economic growth, and that's why we have decided to raise the minimum salary by 20%," President Morales said.
Bolivian Central Labour Union leader Juan Carlos Trujillo said the negotiations had been "very bitter, icy and heavy" but that in the end, the two sides had reached an agreement.
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