Fedecámaras: Venezuelan companies cannot pay new salary increase
Carlos Larrazábal, president of the organization that gathers private enterprises in Venezuela, considers corporations have no capacity to pay a new salary increase since production stopped in the country after the first blackout
Economic scenario in Venezuela makes analysts consider that companies won’t be able to pay the new salary increase decreed by Nicolás Maduro for all workers.
According to Carlos Larrazábal, president of Fedecámaras (Federation of Chambers and Commerce and Production Association), production in the country is paralyzed since the first blackout suffered last March.
After this event, Nicolás Maduro announced the reduction of working hours and academic activities to half schedule nationwide, so production is not activated yet.
Larrazábal considers this is the main reason that will impede companies to pay minimum wage decreed by 40,000 bolivars plus the food bonus that reached 25,000 bolivars.
Fedecámaras highlights the fact that at present any minimum salary is not enough for Venezuelans to pay for basic needs due to hyperinflation and the internal political crisis.
M.Pino
