Venezuela has announced a major increase in workers’ income and pensions as it continues to deal with high inflation and economic hardship.
Acting President Delcy Rodríguez said the country’s “comprehensive minimum income” will rise to about $240 per month, while pensions will increase to $70.
This new income level applies to both public and private sector workers, but it’s important to note that it is not just a base salary. Instead, it includes a mix of wages plus government bonuses and benefits.
The government is encouraging private companies to ensure workers earn at least this amount if they currently receive less.
The move comes after years of economic crisis, where inflation and currency devaluation have sharply reduced people’s purchasing power. In fact, Venezuela’s official base salary has remained extremely low, with most workers relying heavily on bonuses to survive.
Officials describe this as one of the biggest income increases in recent years, aimed at helping families cope with rising living costs. However, experts and citizens have long warned that without controlling inflation, income increases alone may not fully solve the problem.
In simple terms: people will receive more money on paper—but whether it improves daily life depends on how prices and the economy behave next.
Source: AA
