The increase of a 50% in the minimum wage for all workers and retirees in the country, as well as the basis for calculating the Alimentation Bonus Tickets at 8.5 Tax Units (UT), which constitutes an integral minimum wage of 65,056 bolivars, will have impact on 11 million Venezuelans, said the Minister of People’s Power for the Social Process of Work, Oswaldo Vera.
During a special program broadcast on Sunday by Venezolana de Television, he noted that wage increase has been a constant policy promoted by the Bolivarian Government in order to protect the people.
He said that this increase does not only impacts in the public sector, but also in the workers of private enterprises.
Vera said that it is false that wage increases will generate inflation. “This inflationary process is linked in a 70% with speculation, and in our situation with the economic war perpetrated by right-wing sectors” he argued.
He noted that the National Executive is developing a plan to combat and end with speculation. “The wage increase is not an isolated policy, but it will be combined with several plans: The change of the production model into a diversified economy, the food sovereignty with the impulse of the Great Mission Sovereign Supply, and the leading role of the working class in the production processes”, he said.
He further stressed that these policies combined will ensure the purchasing power of the Venezuelan people, who have been subjected to the economic warfare of a bourgeoisie that seeks to destabilize the country.
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