The President of Venezuela has announced a 30% increase in minimum wage
The President of Venezuela Nicolás Maduro announced Saturday night that the minimum wage increased by 30%, as high inflation succeeds heavy blow to the purchasing power of citizens of the country, which is facing a financial crisis.
From today, May 1st, the minimum wage increased to 15.051 Bolivar (1505 dollars at official exchange offices, but only 13.50 on the black market, according to Reuters). The President of Venezuela noted that it is the twelfth increase in the minimum wage since he was elected in April 2013, after the death of his predecessor and mentor, the Hugo Chavez.
The President of Venezuela Nicolás Maduro announced Saturday night that the minimum wage increased by 30%, as high inflation succeeds heavy blow to the purchasing power of citizens of the country, which is facing a financial crisis.
From today, May 1st, the minimum wage increased to 15.051 Bolivar (1505 dollars at official exchange offices, but only 13.50 on the black market, according to Reuters). The President of Venezuela noted that it is the twelfth increase in the minimum wage since he was elected in April 2013, after the death of his predecessor and mentor, the Hugo Chavez.