On Saturday, the Venezuelan government announced a 3-fold increase in the minimum wage, but even after this increase, this wage is still insufficient to buy one kilogram of meat due to the country’s massive inflation rates.
Labor Minister Eduardo Beniati told a gathering of regime supporters on the occasion of Labor Day that the government had decided to increase the minimum wage to 7 million bolivars, equivalent to two and a half dollars. Read also Ramadan in Iraq is different this year .. Expensive prices and the spread of Corona Egypt raises gasoline prices and stabilizes diesel prices for the industrial sector Tunisia in Ramadan … Huge prices and calls for the authorities to intervene Rises of more than 100% for basic commodities … How does the Jordanian consumer face high prices?
Thus, the government has raised the minimum wage by 288.8%, and the minister pointed out that this salary is supplemented by food vouchers worth 3 million bolivars, thus making the minimum income 10 million bolivars.
However, this increase is not sufficient to improve the purchasing power of the citizen in a country that has been suffering for years under the weight of severe political, economic and social crises, and its economy has plunged into recession for 8 years, and inflation in it for 4 consecutive years has recorded astronomical rates that reached in 2020 alone to nearly 3000. %.
In a country whose economy is increasingly dependent on the dollar, the new minimum wage is not sufficient to buy one kilogram of meat, as the price of this commodity, which has become a luxury for many citizens, is $ 3.75 per kilogram, and this wage is not sufficient to buy an egg dish. It contains 30 eggs, not even enough to buy one kilogram of cheese, which is currently worth 11 million bolivars.
“This is not the best news for workers on their holiday,” said economist César Aristimonio, told the French press, commenting on the decision to increase the minimum wage.
And in a country whose government is suffering under harsh international sanctions, especially by Washington, which is seeking to overthrow President Nicolas Maduro since he was re-elected for a second term in 2018, the announcement of the salary increase is taking place without much fuss, contrary to what the government of the late President Hugo Chavez was doing (1999). 2013).