Venezuela raises minimum wage 40%
January 2nd, 2018
Venezuelan President Nicolas Maduro has announced a 40 percent increase to the minimum wage. New wage level would protect workers against, Washington’s economic war to sabotage socialism. The government is in fact fomenting a vicious cycle in a country already wrestling with the world’s fastest inflation. To counter those price increases, Maduro has been raising the minimum wage, but quickening inflation coupled with a depreciating bolivar currency has plunged millions into poverty. Venezuelans will now earn some 797, 510 bolivars a month, factoring in food tickets, or just over 7 Dollars on the widely used black market index.