Chávez raises Venezuelan minimum wage by 30%

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

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