Provea denounces that the “stagnation” of wages has “pulverized” savings

The Venezuelan NGO Program for Education and Action on Human Rights (Provea) denounced this Friday that the “stagnation” of wages has pulverized the savings of families, 800 days following the last time Nicolás Maduro decreed an increase in the minimum wage.

«More than two years of deliberate wage stagnation and accelerated income bonuses have pulverized family savings and snatched away historic gains from workers“Provea said in a post on social media X.

He said that the administration of Nicolás Maduro continues “turning their backs on their social rights obligations«.

Meanwhile, Maduro said on the same social network that the workers, together with the Government, are moving towards “economic recovery» thanks to the commitment of the working class.

«The country has a working class committed to the highest national interests, with leaders who lead a decisive labor force, who build a free and independent homeland every day. Together, we are moving towards economic recovery.“, he pointed.

The minimum wage remains at 130 bolivars per month, currently 3.5 dollars, 88% less than the 30 dollars it was equivalent to when it was last increased in March 2022, as a result of the devaluation of the local currency once morest the US currency, used as a reference for setting prices in Venezuela.

In addition, public employees receive bonuses of up to a maximum of 130 dollars – paid in bolivars at the official rate – which do not generate benefits or labor liabilities.

Meanwhile, the cost of the basic food basket – calculated for a family of five people – is $552.29 per month, according to the most recent estimate by the Center for Documentation and Social Analysis of the Venezuelan Federation of Teachers (Cendas-FVM).