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This is how the Minimum Vital Income is expected to evolve, even if the Government changes

Date: June 18, 2024 Time: 10:59:21

In a context marked by rising prices, the Minimum Vital Income is expected to increase in 2023 in Spain. In 2020, the Ministry of Inclusion, Social Security and Migrations implemented the Minimum Vital Income (IMV), a highly requested non-contributory benefit today. The objective of this aid is to cover the basic needs of people living in vulnerable situations. Last May 2020, during the serious crisis that devastated the world due to the COVID-19 pandemic, the famous Minimum Vital Income aid was launched for the first time in our country.

A benefit aimed at protecting the vulnerable population and those at serious risk of poverty for which, with specific access requirements, these individuals or families opt for remuneration. From there, this aid was legally established at the end of next year through Law 19/2021. From then on and in that legislature, this rent was put into operation. An unprecedented measure in our country that remains in force. However, what will happen to the minimum vital income in 2023?

Will the minimum vital income rise in 2023?

Yeah. Looking ahead to this year, it is expected that this aid will intensify by virtue of the monthly amount offered. The energy crisis and the rise in the CPI, weighed down in part due to the conflict between Russia and Ukraine, are some of the main reasons why this protection measure for the population with fewer resources will be strengthened. For this reason, as can be seen in the official media, the monthly amount of the aid will range from €565.37 to €1,368.21 per month. It will depend on the minors in charge of the person requesting said benefit.

However, apart from the amounts indicated above, there was also a monthly allowance based on the age of each minor in charge. Said complements will be granted as follows:

Children under three years: 115 euros. Over three years and under six years: 80.50 euros.

How many people have requested the minimum vital income in 2023?

Since the aid began to be granted until now, it is estimated that the IMV has reached some 560,800 households, helping a total of approximately 1,579,000 people. It should be remembered that those people who receive the aid are also conditioned by requirements and also by obligations. The latter may be the great unknowns of the general conditions surrounding the IMV, but it is worth remembering them.

At this point, applicants must present the documentation in a precise manner and be aware of all the indications in the management of said aid. Of course, you must present any change that may entail any modification in this basic income, report changes of address, repay the aid improperly received, make the income statement, report any trip abroad or participate in the inclusion strategies that promoted by the Ministry of Inclusion, Social Security and Migrations.

From here, it is assumed that the minimum vital income will continue in 2023 general anticipated for July of this year. As you know, the IMV is designed to supplement the income of those households that do not reach an established minimum threshold, providing them with financial support to cover their basic needs.

However, it seems that before the end of the year there may be a new government with different ideological approaches or stabilize the current one. Therefore, everything related to this benefit will arrive in the short or medium term of what precedes the next electoral elections that will take place this coming summer. We will continue to report on the changes that occur around the minimum vital income aid in 2023.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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