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For comparison, an annual wage column is provided in international dollars, ... Venezuela: The minimum wage in Venezuela is Bs. 400,000 per month, including a food ...
The minimum wage in Venezuela dropped significantly in dollar terms during Maduro's presidency. It decreased from about $360 per month in 2012 to $31 per month in March 2015 based on the weakest legal exchange rate. [80] On the Venezuelan currency black market, the minimum wage was only $20 per month. [80]
Real minimum wage in Venezuela has dropped significantly during Maduro's presidency with the minimum wage sinking from approximately $360 per month in 2012 to $31 in March 2015 (applying the weakest legal exchange rate) . [208] At Venezuelan currency black market's values, the minimum wage was just $20 per month. [208]
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Additionally, he announced the increase in the "economic war bonus" starting February 1 that will reach $60 in order to bring the income of the minimum indexed salary in the country at 0 dollars per month with the 40 dollars of the basketticket. The minimum wage in Venezuela will remain at 130 bolivars per month, which is equivalent to about 3. ...
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By January 2019, the monthly minimum wage was the equivalent of US$5.50 (Bs.S 18,000)—less than the price of a Happy Meal at McDonald's. [48] Ecoanalitica estimated that prices jumped by 465% in the first two-and-a-half months of 2019. [ 49 ]
The gross minimum monthly wage there in 2020 was $1,523 -- noticeably lower than the figure for Australia. However, it was also up 4.2% year-over-year, and people there spend just 7.3% of their ...