Breaking News

Minimum wage in Venezuela is the largest in Latin America

18.04.2012  |  01:45

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.

inside_article


Print versionPrint version

Articles
Depopulation: Plastics chemicals are reducing women s sex drives and men s sperm counts Depopulation: Plastics chemicals are reducing women's sex drives and men's sperm counts
New research out of the University of Rochester in New York has found that the plastics chemicals lurking in furniture, food packaging and many other consumer products are directly linked to decreased...
Ginger tea shown to naturally kill cancer, dissolve kidney stones, improve liver health and more Ginger tea shown to naturally kill cancer, dissolve kidney stones, improve liver health and more
Ginger is another example of a 'superfood' that has been prized for thousands of years for its amazing health benefits, and which is now being scientifically proven to have more beneficial properties than...
The IMF Just Entered The Cold War – Forgives Ukraine’s Debt To Russia The IMF Just Entered The Cold War – Forgives Ukraine’s Debt To Russia
Since 1947 when it really started operations, the World Bank has acted as a branch of the U.S. Defense Department, from its first major chairman John J. McCloy through Robert McNamara to Robert Zoellick...
Right Now There Are 102.6 Million Working Age Americans That Do Not Have A Job NATO Prepares to Send Troops to Protect Turkey from Russian “Threats” The Real Reasons Saudi Arabia Hates Iran McCain wants to shoot down Russian planes attacking Islamists
It’s Official – UK Admits “Human Rights” No Longer a Priority of British Foreign Policy It’s Official – UK Admits “Human Rights” No Longer a Priority of British Foreign Policy
Not that they ever were, but they’ve finally decided to be honest about it. Which to be honest, is pretty scary.
Over Half of E.U. Countries Are Opting Out of GMOs Over Half of E.U. Countries Are Opting Out of GMOs
Sixteen countries have alerted the European Union that they want to opt out of E.U.-approved GM crops.
Proxy Wars: U.S. to arm Kurdish and Arab fighters in Syria Proxy Wars: U.S. to arm Kurdish and Arab fighters in Syria
President Obama has decided not to directly confront Russia over its new air offensive in Syria, believing that President Vladi­mir Putin will soon find himself in a Syrian “quagmire,” but he has approved...
Oregon Shooter's Links To Military Cops Rupture Handcuffed Man’s Spleen, Laugh at Him, Take Pics as He Lay Dying and Begging U.S. Politicians Are Asked About Saudi Atrocities... Here's What Happened Next AMERICAN jihadi is 'top ISIS commander': Yazidi slave reveals that she was beaten and held captive by US citizen who directs attacks and keeps vial of poison to kill himself if he is caught