Published in Official Gazette Venezuelan wage increase
The minimum wage comes into effect as of March 15, 2022, according to the Official Gazette No. 6,691
This week Official Gazette No. 6,691 was published, which establishes the validity of the minimum wage as of March 15, 2022.
According to part of the text, specifically in article 1, “the mandatory monthly national minimum wage is increased throughout the territory of the Bolivarian Republic of Venezuela, for workers in the public and private sectors, without prejudice to the provisions in article 2 of this Decree, as of March 15, 2022, establishing the amount one hundred and thirty bolivars (Bs. 130.00) per month.”
On the other hand, section 4 establishes that this increase has a direct effect on the amount of state pensions, as it does for retirees from the Venezuelan Public Administration.
As an important point, it should be noted that the Official Gazette does not mention in any of its articles that the minimum wage is anchored to the Petro, as President Nicolás Maduro announced at the time.
This new salary increase is equivalent to approximately 30 dollars according to the dollar rate of the Central Bank of Venezuela (BCV). The percentage increase in the minimum wage is 1,757.14 % compared to the previous one in Venezuela, which stood at 7 bolívares.
K. Tovar
Source: Descifrado
