(Bloomberg) — President Nicolas Maduro ordered a 67% increase in Venezuela’s monthly minimum wage, the first this year and the eleventh in the past 24 months.The presidential decree, announced by pro-government lawmaker Francisco Torrealba on Twitter, boosts the minimum wage to 250,000 bolivars ($3.61 at the official exchange rate), up from 150,000 bolivars. In addition, workers will receive a food bonus of 200,000 bolivars, for a total minimum income of 450,000 bolivars, according to Torrealba’s publication of an image from an extraordinary edition of the Official Gazette dated Jan. 9.The new hike, which applies retroactively as of Jan. 1, threatens …read more
Source:: Yahoo Finance
