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Minimum wage increase favors more than 9.6 million workers

AVN.- The 50% salary increase decreed by Venezuelan President Nicolas Maduro, which came into effect on July 1, directly favors more than 9.6 million workers of the country, Venezuela's Vice President of Planning and Knowledge Ricardo Menendez said Monday.
He pointed out that this is the fourth salary increase of the year and the 39th announced by the Bolivarian Revolution since 1999, which exceeds in figures the nine increases that were made during the Fourth Republic.
Through this new salary increase, which includes the readjustment of all salary scales for public administration and pensions, the minimum monthly income rose from 65,021 to 97,531 bolivars; while the payment of the food bonus went from 135,000 to 153,000 bolivars, for a total of 250,531 bolivars as minimum income per worker.
"Measures like these are what have allowed us, in the midst of an economic warfare, to maintain the decline of inequality rates," Menendez said at a press conference.
Contrary to the position of some sectors that claim the increases are a consequence of (induced) inflation, he said that it is a thesis to which "we must object it" with a strong response.
"When you compare the Fourth Republic with what has been the Bolivarian Revolution, we saw impressive inflation rates during the Fourth Republic and no salary increases were made," he said.
In the case of retirees, he stated that each person will receive 126,791 bolivars, coming from 97,531 based on the minimum wage of active workers, and 29,259 bolivars from the special "economic war" bonus.
"It is extremely important to underline the fact we are referring to the 90% of the people that reached retirement age, rather than the 19.6% of people of the past," he said.
This new salary increase is the fourth announced by the Executive so far this year. The first took place in January, the second in March with the increase of the tax unit and its incidence in the payment of the food voucher; the third was in May, and the last one was decreed Sunday by the head of state.
"President Nicolas Maduro, constantly monitoring the increase in the country's food basket, has generated this new perspective from the point of view of workers' income," added the Minister of Planning.
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