CARACAS.- The pensioners of Venezuela, received the payment of 130 bolivars corresponding to the month of January, which is equivalent to 3.6 dollars at the official exchange rate. This is the last payment that older adults will receive during 2023, after since October they have been receiving installment payments for the same amount, corresponding to the bonuses.
This is a pyrrhic amount based on the fact that the minimum wage in Venezuela lost its purchasing power by almost 90% in the last 18 months due to inflation and the devaluation of the local currency.
Pensioners in Venezuela receive the equivalent of one month’s salary monthly. And in the December season, the payment of the bonus that is deposited in the months prior to December.
The minimum wage is only enough to buy 10% of what could be purchased with the same salary a year and a half ago.
In addition to the elderly, public sector workers are also affected by low pay. In contrast to the Venezuelan private company that has decided to add compensation in foreign currency to its job offers to make the economic packages offered to its workers attractive.
Christmas in Venezuela without salary increase
The dictatorship of Nicolás Maduro decreed Christmas in Venezuela from November 1, calling the holiday season “Merry Christmas.” In his televised speech, Maduro stated that “2023 will be the best ever in sharing, solidarity, happiness, happy Christmases in Venezuela.”
However, more than 640 days have passed without any salary increase being announced for Venezuelan workers who continue to earn the lowest income in the Latin American region.
The Basic Basket exceeds $500
For the month of July 2023, the Cendas-FVM revealed that the price of the Family Food Basket -CAF- was Bs. 15,359.49, which implied an increase of 774.87 bolivars, 5.3% compared to the period. former. In dollars, its price is 502.27.
In Venezuela, a de facto dollarized country, the Central Bank quotes the North American currency at Bs.35.7, however, in the informal market the dollar is located at Bs.38.35$, this is the latter amount with which carry out most financial operations. Although the regime has implemented continuous surveillance of businesses that do not convert to the official rate.
Source: WRITING
