Venezuela requires a new wage setting system

The economist Luis Oliveros has indicated this Monday, after no adjustment was made to the workers’ wages, that in Venezuela a new system is required to set the amount earned by the working mass in the country.

According to Oliveros, it is necessary to increase what is needed; what a person needs to cover their basic requirements. The specialist indicated that a reference salary could be located at US$ 500. However, if the Venezuelan government is not able to reach that amount, “it can take it to US$ 50, US$ 80 or US$ 100.”

The academic also stresses that by taking the US$65 per month that workers in Venezuela earn on average to the World Bank metrics, this translates into just US$2 per day. “That is poverty,” Olivares said.

In the economist’s opinion, Venezuela has resources that could well be used to make a better salary adjustment, but there is a management problem. Hence, the need to find a new wage setting system that benefits the population.

M.Pino

Source: finanzasdigital

(Reference image source: Igal Ness, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram