Venezuela’s Maduro Announces 50% Minimum Wage Hike
Under the new measure, the base monthly wage will be doubled to 97,531 bolivars, while food tickets will be raised to 153,000 bolivars, bringing the integrated minimum wage to 250,531 bolivars.
Caracas, July 3, 2017 (venezuelanalysis.com) – Venezuelan President Nicolas Maduro announced Sunday a 50 percent increase in the national minimum wage effective July 1.
Under the new measure, the base monthly wage will be doubled to 97,531 bolivars, while food tickets will be raised to 153,000 bolivars, bringing the integrated minimum wage to 250,531 bolivars.
The new wage will apply to all workers, including government employees, armed forces personnel, National Bolivarian Police officers, teachers, nurses, doctors, as well as pensioners.
The increase is the third of the year and comes amid a deep political and economic crisis marked by spiraling inflation and violent anti-government unrest.