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Venezuela raises minimum wage 30 pct amid raging inflation
 Ay-PeePresident Nicolas Maduro raised Venezuela's minimum wage Friday for the second time this year to help workers being battered by the world's highest inflation. Speaking at a May Day rally, the socialist leader said he is boosting the minimum wage and pensions for retirees by 30 percent, with two-thirds of the increase coming this month and the rest on July 1. He also said he would raise salaries for government employees and military personnel. "And a chicken in every pot! No toilet paper, though, sorry" The wage increase, while a welcome relief for many workers, fell short of expectations that the embattled Maduro might use Friday's celebrations to expand state control of the slumping economy. "that's what we need! More State control!" "Sometimes we don't see the face of the monster that wants to destroy the economy and irritate the people," Maduro told supporters at Friday's rally. "I have no mirrors" He promised more measures in the coming days that he said would wrest control of the economy from the "oligarchs" and "big wigs" who he accuses of trying to topple the government. Free college tuition? Earned Income Tax Credit all around ? The pay increase follows a 15 percent hike in January and will take Venezuela's minimum wage to 7,324 bolivars a month. That is about $1,162 at the country's official exchange rate but less than $30 at the black market rate widely used to set many prices. SEIU should get on this Posted by: Frank G 2015-05-02 |
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