Venezuela's acting president asks workers for patience and promises May wage increase
AP News • • world
Key Points:
- Venezuelan acting President Delcy Rodríguez announced a planned wage increase for public and private sector workers on May 1, aiming to avoid inflationary spikes seen after previous raises.
- Many workers currently earn wages far below basic living costs, with the minimum wage at just $0.27 per month, well under the UN's extreme poverty threshold of $3 per day.
- Venezuela faces hyperinflation, with the IMF estimating a 682% inflation rate in 2025, and the central bank reporting a 475% annual inflation rate, severely impacting food affordability.
- Rodríguez urged patience and cooperation from workers and employers, emphasizing a gradual and responsible economic recovery despite ongoing hardships.
- The announcement comes amid widespread economic crisis and social unrest, with millions impoverished and over 7.7 million having fled the country during Nicolás Maduro’s presidency.
