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Venezuela's Maduro Raises Minimum Wage by 30% Amid Rampant Inflation
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Venezuela's Maduro Raises Minimum Wage by 30% Amid Rampant Inflation
Fecha de publicación:
1 May 2016
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"Do you think a right-wing president could do that? Only a Chavista president can defend wages and pensions," Maduro said as quoted by the EFE news agency.
In January, Maduro declared an economic emergency in Venezuela. The announcement came two days after Venezuela’s oil price dropped to $24 a barrel, the lowest mark in 12 years. Up to 96 percent of Venezuela’s budget depends on oil revenues.
In February, Venezuela's annual inflation rate passed the historic 180-percent mark in 2015.
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