President Nicolas Maduro

Venezuela Hikes Wages 30% & Adds Largest-Ever Bill, Worth $2.50 USD

Venezuelan president Nicolas Maduro announces a minimum wage increase amid an ongoing economic crisis in the country. On Wednesday, Maduro announced the 30 percent wage hike equivalent to just over four dollars an hour. However, rising inflation of the country’s Bolivar currency has mostly offset the increase with salaries decreasing by more than a third since September.