Venezuela raises min­i­mum wage

China Daily (USA) - - BUSINESS -

Venezue­lan Pres­i­dent Ni­co­lasMaduro said that the coun­try’s min­i­mum­monthly wage will in­crease by 50 per­cent from Sept 1. This move comes at a time of eco­nomic dif­fi­cul­ties and raises Venezuela’s min­i­mum­monthly wage to 22,576 bo­li­vars ($2,257). In­clud­ing meal tick­ets, it will rise to a to­tal monthly sum of 65,056 bo­li­vars, which in­cludes an in­crease to the in­dexed food bonus. The hikes came as a mea­sure to pro­tect in­comes from high in­fla­tion, which reached 181 per­cent in 2015.

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