The Program for Economic Recovery, Growth and Prosperity includes a correction mechanism that will periodically adjust the value of the salary, which is equivalent to Petro.
From the Poliedro de Caracas, the President of the Republic, Nicolás Maduro, said on Friday that half a Petro, which for now has a value of 1,800 Sovereign Bolivars, will be corrected according to the variables of the exchange rate and other economic factors.
The idea, stressed the Head of State, is for the people “to have their full Petro, valued in the street market.”
He asserted that this correction factor will go through an adaptation phase for 90 days, starting on August 20 when the new monetary cone was implemented.
“We are in the ninety days of adapting the new system of economic equilibria and I can say that these first weeks have been good. I am very optimistic of the economic future of Venezuela, I have renewed hope in the country”, he added.
Based on the new economic program, on Friday the first part of the new salary for Venezuelans was canceled and on September 15 the second payment will be made.
