Venezuela’s Interim President announces upcoming wage increase

Venezuela’s interim president, Delcy Rodriguez, promised a hike in wages during a televised address on Wednesday night, April 8, addressing a workforce hit by years of hyperinflation and economic collapse.

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The current minimum hourly wage in Venezuela is equivalent to roughly 27 US cents, while annual inflation continues to exceed 600%. While state-provided bonuses can bring monthly earnings up to $150, the cost of basic food necessities for a family is estimated at $645.

“I announce that on May 1st, we will implement an increase, and that this increase, as we have indicated, will be a responsible one,” Rodríguez stated, though she did not provide specific figures.

Rodríguez, who has been in power since January, declared that past economic “mistakes” must be “corrected.” Her administration remains under significant pressure from the United States regarding the management of the country and its oil exports.

Labor unions and workers have long criticized what they term “poverty wages,” which have remained largely stagnant despite the soaring cost of living.

In response to the ongoing financial crisis, several groups have called for a demonstration in the capital this Thursday to reiterate their demands for a livable wage.