US EditionVenezuela's Rodriguez Announces 'Responsible Increase' to Wages From May
Rodríguez said the raise will be funded without money-printing as workers press for higher pay and inflation remains above 600%, the IMF estimates.
- On Wednesday, Acting President Delcy Rodriguez announced her government will implement a "responsible increase" to workers' income on May 1, leveraging oil and mining revenues to improve salaries.
- Inflation in Venezuela soared to 475% last year, while the International Monetary Fund estimates a 682% rate, leaving many public sector workers surviving on roughly $160 per month.
- Rodriguez noted the base minimum wage has remained at 130 bolivares since March 2022, emphasizing recovery requires "prudence" and "patience" as hydrocarbons and mining sectors ramp up production.
- Workers are expected to gather Thursday in Caracas to demand higher pay, though Rodriguez did not disclose specific figures to avoid repeating previous inflationary spikes.
- The Trump administration is working with the Venezuelan government to expand investment in oil and mining, with diplomatic relations warming after the capture of President Nicolas Maduro earlier this year.
64 Articles
64 Articles
The minimum wage in the country today is US$ 0.27 per hour and does not even cover a fraction of the basic food costs of a family.
By Gonzalo Zegarra, CNN en Español The announcement by the president in charge of Venezuela, Delcy Rodríguez, of a “responsible increase” of the minimum wage in the country was not accompanied by concrete figures, but with promises that are nuanced by a dramatic economic reality for workers and pensioners. Despite a slow recovery in oil production and the re-establishment of relations with the United States, the situation still does not invite m…
Venezuela: Delcy Rodríguez Announces New Social Policies, Minimum Wage Increase (+National Pilgrimage)
Caracas (OrinocoTribune.com)—In a comprehensive address to the nation from Miraflores Palace, Acting President Delcy Rodríguez reaffirmed Venezuela’s ten-year struggle against illegal US-led economic warfare and sanctions, and charted a course toward total economic recovery. Accompanied by the Council of Vice Presidents and the president of the National Assembly, Rodríguez emphasized that Venezuela is transitioning from a period of “induced migr…
In Venezuela, the interim government of Delcy Rodríguez will increase the wages of workers. In the country, the economy has collapsed over the last ten years, marked by an extreme inflation rate of 600% over the last 12 months. The announcement of this wage increase was made on 8 April in a television address by the interim president.
Venezuela to Raise Minimum Wage for First Time in Four Years
Key Points — Acting president Delcy Rodríguez announced a “responsible” minimum wage increase effective May 1 — the first adjustment after four years with the formal salary frozen at 130 bolívares, worth less than $0.50 today — Integrated worker income — including dollar-indexed bonuses — has risen from $30 per month in 2021 to $190 […] The post Venezuela to Raise Minimum Wage for First Time in Four Years appeared first on The Rio Times.
Observador
IOL PortugalDelcy Rodríguez announced several measures to dynamise the country's economy, which include the revision of the Chavista model, with the promise of a social dialogue, wage increases and tax reforms.
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