Venezuela: Chavez increases mimimum wage 32.5% to $476.00 month

Posted on April 8, 2012 • Filed under: Business, Economy, Labor Issues, Venezuela

Chavez 32.25% increases the minimum wage to $ 476.00. The president made the announcement one hour before leaving for Cuba. Venezuela’s President Hugo Chavez, announced today an increase of 32.25 percent of the minimum wage to $ 476 in local currency, applicable in two tranches, the first of 15% percent on May 1, and a second by the rest of the percentage of 1 September. “I have found it necessary to make this announcement at a time (…) to turn from the May 1 increase in total will be 32.25% of the minimum wage,” he said in chain broadcasting compulsory. Read Article

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