Maduro decreed new economic measures
The Venezuelan president announced an increase in the minimum wage, the value of Petro in Bs.S, and an increase in VAT, in the context of the monetary reconversion
Last Friday night, prior to the start of the monetary reconversion, Venezuelan President Nicolás Maduro made new announcements in economic matters highlighting the increase in the minimum wage, which went from current Bs. 3,000,000 to BsS. 180,000,000 (thousand 800 Bolívares Soberanos).
This announcement falls within the framework of his Economic Recovery Program in which, as he assured, the minimum wage will represent half of a petro, the national cryptocurrency, which will be set at BsS. 3,600.
On the other hand, the Venezuelan president announced that for 90 days, the State will be responsible for covering the payroll differential of small and medium-sized industries in order not to reach a “strong impact of inflation.”
He also detailed that a bond will be deposited through the Carnet de la Patria, which will have a value of BsS. 600 to help citizens get involved in this new economic process.
Likewise, Maduro announced the increase of the Value Added Tax (VAT), which will increase from 12% to 16%.
On Monday, August 20, the circulation of a new monetary cone begins to be applied in Venezuela, along with a monetary conversion of five zeros in the local currency.
K. Tovar
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