VENEZUELA TO RAISE WAGES FROM MAY 1 AMID ECONOMIC CRISIS
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Agency Report
Venezuela’s interim president, Delcy Rodriguez, on Wednesday promised a hike in wages, which have been eroded by years of inflation and economic collapse.
The minimum hourly wage in Venezuela is currently equivalent to 27 US cents, with annual inflation exceeding 600 percent.
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For ordinary Venezuelans, monthly wages can reach $150 with state-provided bonuses, but that’s hardly enough to cover a family’s basic food needs, estimated at $645.
“I announce that on May 1st, we will implement an increase, and that this increase, as we have indicated, will be a responsible one,” Rodríguez said in a televised address, without providing more details.
The interim president, in power since the US capture of Nicolas Maduro on January 3, declared that past economic “mistakes” must be “corrected.”
She is governing under pressure from US President Donald Trump, who has stated that he is in charge of the country and the sale of its oil.
Unions and workers complain about “poverty wages” that have been frozen for years. Several groups have called for a demonstration in Caracas on Thursday to reiterate their demands.
AFP
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