Maduro keeps Venezuela minimum wage frozen but raises bonuses

Venezuelan President Nicolas Maduro connected Wednesday announced an summation successful authorities bonuses for nationalist assemblage workers but kept the minimum wage frozen astatine the equivalent of little than $4 a month.

“Today, I person decided to rise the minimum broad income of workers to $130,” the leftist president said astatine a gathering with lipid manufacture workers successful Caracas aft participating successful a May Day march.

The “comprehensive minimum income” comprises the minimum wage of $3.50, positive a $40 nutrient bonus and an “Economic War Bonus” that volition beryllium raised from $60 to $90, ruling enactment lawmaker and erstwhile labour curate Francisco Torrealba said aft the president did not springiness specifics.

The “Economic War Bonus” was created to counteract the effect of US sanctions against Venezuela and lone applies to the 5.5 cardinal nationalist assemblage workers successful the state of 30 million.

The summation has nary interaction connected benefits specified arsenic different bonuses and unemployment benefits oregon pensions, which are pegged to the ceremonial minimum wage that past accrued successful 2022 erstwhile it was equivalent to astir $30 — a sum present worthy astir $3.50 owed to the devaluation of the bolivar.

Union leaders person questioned this wage “bonus” policy, but Maduro justifies it owed to the interaction of US sanctions.

The Confederation of Venezuelan Workers, which is captious of Maduro, besides demonstrated Wednesday successful Caracas demanding a minimum wage of astatine slightest $200.

The mean outgo of nutrient for a household exceeds $500 a month.

Venezuela has been deed successful caller years by chronic ostentation — Maduro projected a 60 percent emergence successful prices for this twelvemonth — and by the changeless depreciation of the bolivar, displaced by an informal dollarization that prevails successful the bulk of commercialized transactions.

Venezuela heads to the polls for statesmanlike elections connected July 28, with Maduro wide expected to question reelection and his main absorption challenger disqualified from running.