In an effort to alleviate mounting dissatisfaction over challenging living conditions, Venezuela’s acting president Delcy Rodriguez raised the minimum wage package by 26.3 percent, to $240, on Thursday.
On the eve of International Workers’ Day, Rodriguez, the successor to ousted leftist leader Nicolas Maduro, spoke to thousands of government supporters in Caracas and described it as “the most significant increase in recent years.”
It is unclear who would gain from the increase because she did not provide a breakdown.
Venezuelans have in recent weeks repeatedly demonstrated for an increase to wages so low that many struggle to survive in the face of annual inflation of over 600 percent.
On April 9, police clashed with thousands of protesters who marched towards the presidential palace in Caracas to demand salary and pension increases.
The increase announced Monday by Rodriguez is to the “comprehensive minimum income,” a package composed of a very low wage ($0.30 a month) — roughly 330 times lower than the UN poverty line of $3 a day — topped with a food bonus of $40 and an “economic war” bonus of $150 for a total of $190.
Additionally, Rodriguez announced a $70 boost to the state pension, which she said was a 40 percent increase.
Recognizing that it was still “not enough,” she pledged to create a “special plan for our grandfathers and grandmothers.”
The audience in Caracas cheered and applauded the announcements.
However, according to Venezuelan analysts, the raises still leave the majority of workers well short of the $677 required for a family of five to meet their basic food demands.
Rodriguez has insisted on the need for “responsible” wage increases that do not cause inflation to further spiral.
Yeisi Romero, a 44-year-old local government worker attending the rally, said the increases fell short of his expectations but that “things are getting better.”
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