May Day in Venezuela: President Maduro to Raise Minimum Wage Once Again
He gave housing to a woman who threw a mango at him last week, and now President Nicolas Maduro has further ingratiated himself to the economically burdened people of his country by raising Venezuela's minimum wage for the second time this year.
Making the announcement at a rally on May Day (which aside from being a traditional mark of springtime is the International Workers' Day celebrated by Socialists and Communists alike), Maduro announced that he is increasing the minimum wage as well as the pensions for retirees by 30 percent. As the plan is set, two-thirds of the increase will take place in the month of May, and the remainder will happen on July 1.
The socialist leader further stated that he would raise salaries for government employees and military personnel as well.
As reported in The Associated Press, in the days preceding his announcement of a hike in the minimum wage, Maduro had strengthened his already vocal criticism of the Venezuela’s business elite. The president's increase in public attacks on big business has caused Empresas Polar, the head of the nation's largest food maker, to publish an open letter to the president calling for dialogue.
Maduro, for his part, has demonized big business, telling his supporters at the Friday rally, "Sometimes we don't see the face of the monster that wants to destroy the economy and irritate the people."
As quoted in Market Watch, Maduro emphasized his duties as leader by saying, "I have to protect the vital salary of the workers as defended by the constitution."
Economists by and large feel that the wage increases are likely to keep adding to the inflation that Venezuela is currently facing.
Subscribe to Latin Post!
Sign up for our free newsletter for the Latest coverage!