Venezuela Boosts Minimum Wage by 43% to Quell Growing Protests

Minimum monthly pay raised to the equivalent of $100
Socialist government pressured by public sector workers

Demonstrators during a protest in support of public sector workers outside the Public Ministry of Venezuela headquarters in Caracas, on Jan. 9, 2024. — Demonstrators during a protest in support of public sector workers outside the Public Ministry of Venezuela headquarters in Caracas, on Jan. 9, 2024.
Photographer: Gaby Oraa/Bloomberg

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By Andreina Itriago and Fabiola Zerpa

January 15, 2024 at 9:23 PM UTC

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Venezuela raised its monthly minimum wage by the equivalent of more than 40% as protests by disgruntled public workers grow ahead of presidential elections this year.

President Nicolás Maduro said Monday that workers will get a monthly supplement of $60 as well $40 in food stamps on top of the base salary of less than $4. That compares to bonuses equivalent to about $70 before today’s announcement.