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Minimum Wage Increased, Pensions Standardized

Venezuelan President Hugo Chávez highlighted on Thursday that measures to guarantee the social security of Venezuelan citizens are being speedily implemented in the country. The Venezuelan head of state said that the progressive increase of the minimum wage, one of the highest in Latin America, as well as the standardization of pensions shows the implementation of a policy that guarantees social security for all Venezuelans.

Moreover, farmers and fishermen will also be included among the groups of citizens that will start to enjoy the right to receive a pension, President Chávez said during the inauguration event of a police training center, in Caracas’s west.

The president explained that 40 percent of the pensions were standardized to 100 percent. Financial resources for this pension standardization were already approved, he informed.

The Venezuelan head of state highlighted that his government is carrying out big efforts to redistribute the domestic income. He reminded that in Venezuela, during 100 years of oil exploitation, 95 percent of incomes were taken by multinational companies and privileged sectors, while currently the state guarantees the distribution of these incomes for the Venezuelan people.

“We are always thinking about how to ensure that the Venezuelan burden is balanced and national wealth is distributed equally so we can live with dignity,” said President Chávez.

The Venezuelan leader considered as lamentable the economic and social crisis currently undergoing in some European countries. “It’s lamentable. In other countries salaries are cut. This is lamentable. Here we are increasing pension benefits and now we are including fishemen and farmers so they can receive pensions,” he said.

Bolivarian News Agency, Embassy of the Bolivarian Republic of Venezuela to the U.S. Press and Communications Office/May 14, 2010

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