VENEZUELA’S PRESIDENT HIKED THE NATION’S MINIMUM WAGE

Posted on May 1, 2017

Venezuela’s president  Nicolas Maduro hiked the minimum wage to another 60% on Sunday to mitigate the country’s ongoing economic crisis.

Nicolas Maduro said on Sunday he expected delayed state polls to be held this year, although opponents have demanded a broader general election to replace him in protests that have sparked 29 deaths.

The postponed vote for governors of Venezuela’s 23 states – originally slated for 2016 – is one of a litany of opposition grievances against Maduro whom foes accuse of becoming a dictator and wrecking the economy.

President Nicolas Maduro announced the change on his weekly television show. It’s the latest in a series of hefty increases to the minimum wage that have been issued as the country’s currency plunges in value.

Though the wage hike sounds significant, the country’s price of food, goods and medicine is skyrocketing, which has made basic purchases too expensive for many Venezuelans.