The Vice President for Planning, Ricardo Menendez said on Monday that the 30% wage increase approved by the Executive for May 1, directly impacts 5,573,261 Venezuelan workers, but another additional 12,126,147 also benefit from the decision.
At a press conference held on Monday, he stressed that these are “measures of a broad impact, especially when a decision is taken from the point of view of revenues”.
He explained that in Venezuela, an 11% of the population with higher salaries concentrate a 30% of income, while those earning between 1 and 2 minimum wages represent a 55% of workers and, instead, accumulate a 31% of total resources.
“The neo-liberals would want us not to raise the wages to those who are the most in need. The increase means to be able to acquire a carton of eggs, milk for their children; It is the ability to contain the economic war”, he said.
He noted that with this executive decision, 2016 carries a cumulative 105% wage increase. He said the Government has the vision to keep wage increases when the inflation rate rises.
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