Venezuela's Maduro hikes minimum wage 300 percent

Reuters ^ | January 14, 2019 | by Brian Ellsworth

[Oldeconomybuyer]

CARACAS - Venezuelan President Nicolas Maduro raised the minimum wage by 300 percent to 18,000 bolivars per month, around $6.70, as part of routine wage hikes in an economy suffering from annual inflation approaching 2 million percent.

[Oldeconomybuyer]

Unexpected.

[bert]

In point of fact, there is no Venezuelan economy.

For economic activity there must be goods and services to be bought and sold.

[silverleaf]

Showing the democrat congress an example to follow

[austinaero]

This should pretty much finish off all business left operating in V

[GnuThere]

Where are the American minimum wage caravans headed down there?

[Pearls Before Swine]

This should pretty much finish off all business left operating in V

I disagree. Venezuela is probably 99.9% a barter economy anyway. With the inflation rate they've got, any stated wage in bolivars is worth less than stated in a day or at most a week.

[circlecity]

That’s like giving a man dying of thirst a empty cup but a bigger one then they used to have.

[Yo-Yo]

There, that’ll fix their economy...

[rktman]

aoc?

[SpaceBar]

Like an I.V. drip on a corpse.

[Pajamajan]

Isn't Maduro caring and compassionate?

We should make minimum wage $1000 an hour cuz then everyone will be rich (/s).

[Theodore R.]

People in Venezuela must be as slow of learning as their compatriots in big across the USA.

[Gay State Conservative]

Cue the photos of Zimbabwe’s 10 billion dollar bills!

[SpaceBar]

It’s all underground now. Ass, gas, or grass as they used to say.

[Brilliant]

Just like the Dems. That’ll fix things.

[Brilliant]

300% of nothing is still nothing.

[dartuser]

With the inflation rate they've got, any stated wage in bolivars is worth less than stated in a day or at most a week.

I recall the travel company recommending that if you take a cab in V, pre-pay the fare ... the inflation rate is so high that the fare will be more expensive by the time you arrive at your destination.

[Kozak]

Venezuelan President Nicolas Maduro raised the minimum wage by 300 percent to 18,000 bolivars per month, around $6.70, as part of routine wage hikes in an economy suffering from annual inflation approaching 2 million percent.

Falling a little behind....

[PGR88]

Socialist leaders are always so generous!

/s

[ImpBill]

Just like Germany pre WWII those folks will be carrying money in wheel barrels to buy a loaf of bread.