Maduro maintains the minimum wage of five dollars a month and “compensates” for it with discretionary bonuses

by time news

2023-05-01 23:07:59

Updated

The measures do not solve, far from it, the major loss of purchasing power of the most popular classes

Maduro celebrates with supporters this May 1st.FEDERICO PARRAAFP
  • Venezuela Maduro finalizes a rise in the Minimum Wage, the fourth lowest in the world: $5.25 per month

The expected announcement of Nicolas Maduro on the increase in the minimum wage of misery that Venezuelans receive, five dollars a month, has not satisfied anyone. In principle, because that amount is maintained after over a year with the highest inflation on the planet and it is “compensated” with an increase in the ticket basket (food coupons delivered by companies) up to 40 dollars, in addition to the so-called monthly “war bond”, which is not received by the entire population, at 20 dollars.

“How proud I feel to say that I am president of the Venezuelan working class! I come from their struggles, I am sure that the sacrifice, the effort and the battle have not been in vain,” Maduro pontificated before announcing measures that do not solve, far from it, the capital loss of purchasing power of the most popular classes. Venezuela has around five million public workers, who will receive the basket ticket starting this month, but not so the five million retirees, who will maintain themselves with their five dollars as a pension. The private company must also provide these 40 dollars to its employees.

The increase in the war bond to $20, which most retirees should receive, contains a trap: it is a discretionary measure of the government, which Not everyone enters but rather those who are registered in the Patria System and meet all the conditions imposed by the revolution. The homeland card is the greatest tool of social control available to the government.

“I have been maturing to improve income. It is an emergency plan, of resistance”, justified the “worker president”, who despite everything envisions a “splendorous future”.

The “people’s president”, in this way, has ignored trade unionists and workers, who demanded increases in the minimum wage between 100 and 500 dollars and that they have manifested again in Caracas and other cities. According to the data managed by the Venezuelan Observatory of Social Conflict (OVCS), Venezuelans took to the streets to protest 2,814 times during the first quarter, almost 50% more than last year.

Prices in Venezuela are close to those in Spain in many areas and are almost double those in Colombia. 53% of the population lives in extreme poverty, according to the latest National Survey of Living Conditions.

“The worst imagined scenario: there was no increase in the minimum wage and thus the de facto elimination of social benefits was decreed, including seniority and unemployment. The calculation of the savings bank is also negatively affected. Disastrous”, summed up the economist Herms A. Prez.

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