President Hugo Chávez is raising Venezuela’s minimum wage by 30% as inflation continues to soar in the oil-producing nation.
The socialist leader has signed a decree that will fix the monthly minimum wage at $372, starting on May 1, International Workers’ Day. Chávez says the move will give Venezuela the highest minimum wage in Latin America.
All public employees’ wages will also increase by 30%.
If food stamps are taken into account, Chavez says the minimum wage will actually reach $558.
”There is no socialism without the working class,” he said on Wednesday. — Sapa-AP