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Venezuela hikes minimum wage 30% amid inflation
short by Nihal Thondepu / on Sunday, 1 May, 2016
Venezuela's President Nicolas Maduro on Saturday increased the minimum wage in the country by 30% amid triple-digit inflation. The minimal monthly wage starting May 1 will be $1,505 at the official exchange rate but amounts to $13.50 in the black market. This comes after Maduro declared two-day working weeks for all public services due to the power crisis in Venezuela.
read more at Reuters