Provea says Maduro’s government ignores its obligations regarding social rights

Venezuelan NGO Provea said on Sunday that the Nicolas Maduro’s government He insists on ignoring his obligations in terms of social rights, after 900 days without ordering an increase in the minimum wage, which remains at 130 bolivars, or 3.5 dollars.

“While democracy is being hijacked and repression is escalating, those who govern insist on ignoring their obligations regarding social rights,” Provea stated in a message posted on the social network X.

He also said that more than two years have passed without a salary increase, “in the midst of widespread impoverishment of the population.”

“Without democracy there is no guarantee of development and well-being for families,” he added.

Low purchasing power in Venezuela

In Venezuela, a person needs 34.4 minimum wages – currently at 3.5 dollars per month – to pay for the basic food basket, which in July cost 108.5 dollars for each member of a family of five, according to data from the Documentation and Social Analysis Center of the Venezuelan Federation of Teachers (Cendas-FVM).

In addition to the minimum wage, workers receive a food bonus of $40, plus, for public employees, the so-called ‘economic war bonus’ of $90, for a total of $133.5, paid in bolivars at the official exchange rate of the Central Bank of Venezuela (BCV).

On August 29, Venezuelan President Nicolás Maduro said that the country will register “the lowest inflation in decades” in 2024, while stating that “there is a good expectation in society, in the population” and “in economic actors.”

In July, according to the BCV, inflation was 0.7%, thus maintaining a downward trend, while the cumulative rate of increase in prices of goods and services reached 9.7% in the first seven months of the year.

Authorities expect Venezuela, which experienced a hyperinflationary process between 2017 and 2021, to close 2024 with inflation below 50%.