Post
Topic
Board Economics
Re: Enjoy comunism: Venezuela raises monthly minimum wage to $2.40
by
Poker Player
on 04/05/2021, 11:06:51 UTC
~

I don't know if you have noticed that purchasing power has gone down at the same time that Maduro has raised the minimum wage. There are no lobbies left in the country to pressure Maduro. What you call decency is being poorer and poorer and going hungrier and hungrier.

That's why I said that this thing should happen a long time because right now it will be problematic since they are experiencing a hyperinflation. I know that raising wages causes inflation but in a healthy inflation, it is a good thing.

You're another one who doesn't read. They are in the fourth year of hyperinflation, and in these 4 years the minimum wage has not stopped rising:


I've read somewhere that he has raised the minimum wage more than 40 times since he is in power but I can't find the exact source. According to the following source, however, he raised it 21 times between April 2013 and March 2018:

President announces new increase in minimum wage (March 2018)


It was also raised in 2019 and 2020, a simple google search tells you that.