The Venezuelan President raised the minimum wage against the background of mass protests
MEXICO city, may 1 — RIA Novosti. Venezuelan President Nicolas Maduro announced on Sunday about the next increase in the minimum wage by 60% against the backdrop of mass protests that swept the South American country.
Since may 1 the minimum wage will be 65021 Bolivar is 40638 bolívares, together with 135 thousand bolivars for the purchase of basic food basket the size will be 200 thousand bolivars, according to the portal Noticias24. Also for the first time introduced additional payments to pensioners in the amount 19506 bolivars.
This increase is the third in 2017 and takes place on the background of high inflation. Now in Venezuela there are several exchange rates of the Bolivar to the dollar. So, the official fixed exchange rate of the Bolivar DIPRO remains unchanged at 10 bolivars per dollar exchange rate as additional system for the exchange of DICOM — 716 bolivars, but it is very far from that black market where the dollar has already reached 4.2 thousand bolivars, according to Dolar Today. At this rate minimum wage equal to about 47 $ with all the payments.
From 4 April in Venezuela are protests. According to recent reports, during the demonstrations against the government of Nicolas Maduro and his support has killed about 30 people. The protests began after the decision of the Supreme court, severely limit the power of opposition in the National Assembly.