The Daily Journal.— Venezuela’s acting President Delcy Rodríguez said Thursday that increases in workers’ compensation should outpace gross domestic product (GDP) growth starting in 2027, a directive she said she gave to the government’s economic team.
“I have asked the economic team to ensure that, starting next year, any increase in workers’ compensation remains above GDP growth, above the country’s economic growth, so that Venezuelan workers can directly feel the benefits,” Rodríguez said during the opening of the 82nd Annual Assembly of Fedecámaras in Caracas.
During her remarks, Rodríguez cited Fedecámaras figures showing a 32.8% increase in private-sector compensation.
“According to Fedecámaras figures, workers’ compensation in the private sector grew by 32.8% this year, while in the public sector it grew by 50%,” she said.
The acting president recalled that the comprehensive minimum income increased from $160 to $240 in May of this year.
Venezuela’s minimum wage has remained frozen for four years, since Nicolás Maduro increased it to 130 bolivars, an amount now equivalent to about 10 U.S. cents. The Chavista government has replaced wage increases with bonuses that do not count toward vacation pay, profit-sharing payments, severance benefits, or other employment benefits.
