Post
Topic
Board Economics
Re: Enjoy comunism: Venezuela raises monthly minimum wage to $2.40
by
samcrypto
on 07/05/2021, 23:28:49 UTC
I don't think the situation in Venezuela will change for the better any time soon. The salary is a little over two dollars a month, it's ridiculous. But, of course, not for Venezuelans. For this salary, you can buy thirty eggs, that is, the salary provides one egg per day. Therefore, a significant part of the population of this country is simply starving there. Everything needs to be changed there.

It is not that bad. I am not a resident of Venezuela, so someone from there can correct me if I am wrong. Large number of Venezuelans are employed in the neighboring countries such as Colombia and they send considerable amounts as remittance (more than 5 million Venezuelans have left the country in the past few years). Also, a lot of Venezuelans do freelancing and receive their salaries in USD or other foreign currency. Even inside Venezuela, the salaries are not that low.
That only means Venezuelans need to look for other source of income just to support their daily needs, and most of them already travel far abroad just to look for a better job and get compensated enough to support for their families still living on Venezuela. I understand the hyper inflation that is happening in Venezuela, their government should create a concrete solution that benefit their citizen in long term, their Salary is way below than I expected.