Minimum wage in Venezuela is the largest in Latin America
In Venezuela, the high esteem of the people moves at full speed - a fact which in itself contributes to the socio / economic development and clout of the country. Venezuela has much to teach the great countries of Latin America. (Brazil, Mexico and Argentina)
by Jacob BlinderPresident Hugo Chavez announced the increase of the minimum salary in Venezuela to come into force next May. It will be 2,047.52 Bolivars, which, added to the 950 Bolivars from the compulsory food ticket for this salary band, will total 2,997.52 Bolivars (equivalent to 697.09 USD). To this should be added the benefit which they term "aguinaldos" which represents three more annual salaries (also compulsory) and then we shall end up with a total annual salary of 44,962.80 Bolivars (10,456.46 USD/year).The average monthly wage of a worker receiving minimum wage in Venezuela from May will therefore be 3,746.9 Bolivars ($871.37) - which is to be the highest in Latin America. We also emphasize that only 21% of workers earn minimum wage in Venezuela (4 million workers), and that government action will be injected into the economy the equivalent of 4 billion dollars annually (via oil revenues) which is something very significant .Meanwhile, in Brazil, which has an economy 6.5 times larger than Venezuela (measured by GDP) the minimum wage has a value of 622 Reals, or 8,086 Reals per year (including around the 13th salary), which amounts to $4,371 annually, representing only 41% of the one existing in Venezuela. Another note provides a worldwide survey by Gallup bringing the startling information that Venezuela is the fifth happiest country in the world. Since this curious survey was conducted by an institution of the United States, that puts the country itself in 12th place, it may be something significant, since it shows the mood of the population in both countries (the United States wrapped up in economic crisis, unemployment, wars, etc., etc., and Venezuela public policies are working for income distribution surrounded by a revolution which has a distinct anti-neoliberal and pro-socialist character and a political leadership that has great popular support.In Venezuela, the high esteem of the people moves at full speed - a fact which in itself contributes to the socio / economic development and clout of the country.Distributing income to the majority of the population and gradually doing away with social injustices is possible, simply that there is a bold on such political decisions by governments which should always be backed by people power based on a participatory and protagonist democracy.
And in this perspective, Venezuela has much to teach the great countries of Latin America. (Brazil, Mexico and Argentina) Translated from the Portuguese version by: Lisa KarpovaPravda.Ru.