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President Ch?vez reiterates that minimum wage will rise as of May 1st

The President of the Bolivarian Republic of Venezuela, Hugo Chávez Frías, reiterated that as of May 1st, the minimum wage for Venezuelan workers will increase.

President Chávez made this announcement on Wednesday during a Ministerial Council meeting at Miraflores Palace.

“I think Venezuela is the only country where we are seeing this.  Is there news of another country increasing the minimum wage?  I do not think it is happening elsewhere,” he said, in reference to a rising wage during the global financial crisis.

The President affirmed that the revolution will guarantee increases in both salary and the well-being of Venezuelan families.

In March, Chávez announced a series of economic measures, one of which increases the minimum wage by 20% (10% on May 1st and another 10% on September 1st).

The current minimum wage in Venezuela is 799 Bs.F (bolívares fuertes) a month, which is equivalent to $372.

As of May 1st, 2009, the minimum wage in Venezuela will reach $409/month (879 Bs.F), and on September 1st it will rise to $450/month (967 Bs.F). 

Agencia Bolivariana de Noticias (ABN), Embassy of the Bolivarian Republic of Venezuela Press Office / April 29, 2009

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