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The Venezuelan authorities for the first time after the denomination of the month of August raised the minimum wage in the country. This decision was announced on Thursday evening on Venezolana de Televisión TV channel by the President of the Bolivarian Republic, Nicolas Maduro.
"From 1 December, the minimum wage and pensions will rise to 4.5 thousand sovereign bolivars (about 12 dollars at the black market rate – comment TASS)," said the head of state . Previously, the minimum wage was 1,800 sovereign bolivars. The cost of the Venezuelan cryptocurrency petro, following Maduro's decision, was also increased from 3,600 to 9,000 sovereign bolivars.
Venezuela has experienced in recent years an acute socio-economic crisis, accompanied by the devaluation of the national currency and hyperinflation. According to Parliament, the inflation rate from January to October this year was about 287 million and, on an annual basis, the price increases exceeded 833 million. Inflation could reach a million percent by the end of the year. The data of the Central Bank of Venezuela on the level of inflation have not been published for several years.
The Office of the United Nations High Commissioner for Refugees and the International Organization for Migration announced that the number of Venezuelan refugees and migrants in the world reached 3 million, but that the Venezuelan government does not recognize the number of refugees and migrants from Venezuela. existence of a humanitarian crisis in the country.
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