New minimum wage in Venezuela increased by 5900%... overnight!

[GatoGordo]

Maduro: New minimum salary is 1,800 sovereign bolivars
The announcement was made this Friday during his meeting with the economic cabinet. This is the fifth salary increase decreed in 2018



By EL NACIONAL WEB
AUGUST 17, 2018 07:14 PM | UPDATED ON AUGUST 17, 2018 8:22 PM

President Nicolás Maduro announced this Friday during his meeting with the economic cabinet that the new minimum wage will be 1,800 sovereign bolivars, which would be equivalent to 180,000,000 bolívares fuertes. The increase is 5,900% compared to the minimum wage set on June 20 of this year, which was 3,000,000 bolivares fuertes.

"You dollarize the prices, I control the salaries, I have decided to implement a new minimum wage based and anchored in the Petro, that's why I have set the minimum salary for all salary tables Bs 1800 or 0.50 Petros, basis for the salary update, petrolizando salary" indicated Maduro. He added that pensions, which are received by the elderly, will also be located in that figure.

The president pointed out that the new accounting unit, the petro, has a value of 3,600 sovereign bolivars, or 360,000,000 bolívares fuertes, so the salary equals 0.5 petro.

http://www.el-nacional.com/noticias/economia/maduro-nuevo-salario-minimo-1800-bolivares-soberanos_248422

What could go wrong in an economy with 1,000,000% inflation, no electricity, no water, no food, no medicine, no transportation and a worthless currency?

iViva la revolución!