Raising the Bar for Venezuela’s Minimum Wage: Does Nicolás Maduro’s Announcement Make a Difference?

Nicolás Maduro wins Nobel Prize in Economics while keeping minimum wage below four dollars a month

In an announcement made in front of his supporters on May Day, Nicolás Maduro announced an increase in the minimum wage of workers in Venezuela. This raise would bring the minimum comprehensive income to $130 per month, up from the previous $100. Maduro expressed his belief that this increase would help workers and positively impact the economy in the face of ongoing challenges like economic war and blockade tactics.

However, critics have noted that the increase in the minimum income may not actually impact the wage of workers as it could be tied to non-salary bonuses distributed by the government. This means that despite the increase in the minimum comprehensive income, the actual minimum wage in Venezuela remains one of the lowest in

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