Venezuela’s minimum wage is a subject of ongoing discussion in the country. The government of President Nicolás Maduro is seeking to raise the minimum wage, but workers are asking for a higher increase than what the government has proposed. Venezuelan workers are demanding a minimum wage between $200 and $400 to cover basic necessities. The trade unions are currently in talks under the auspices of the International Labour Organization (ILO). The president has indirectly addressed the issue and has called for workers to protest against sanctions imposed by the US. The head of the Venezuelan Federation of Chambers of Commerce and Production (Fedecámaras), Carlos Fernández, suggested that the minimum wage could be raised to USD $50 per month. The debate on the minimum wage has centered around the effectiveness of monetary policies versus policies to stimulate supply and demand.
Venezuela Increases Minimum Wage: Who is Affected and When does it Take Effect?
- Post category:Technology
- Post author:Elizabeth Taylor
- Post published:March 19, 2023