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Venezuela will start 2021 with a minimum wage of 400,000 bolivars, a ridiculous figure that does not even reach a dollar. In Colombian pesos, this value is close to 1,350 pesos, at the exchange rate of this December 31, 2020.
The devaluation of the currency of the country of Nicolás Maduro is worrying and citizens expected an increase in the minimum wage before the end of this year, something that finally did not happen. The Venezuelan population complains, among other things, because this amount is not even enough for the purchase of the family basket.
To highlight the situation, Pulzo did the exercise and consulted citizens about what products can be bought with 10,000 Colombian pesos in the neighboring country, and the results show the critical situation and low purchasing power:
- In Caracas, for example, that money is equivalent to around one million Venezuelan bolivars. With that you can buy a carton of eggs and a bag of bread flour.
- In Táchira, with 10,000 pesos you can buy: a bag of flour (3,000 Colombian pesos) and a bottle of oil (6,500 pesos). If you have more money, you can buy a 125 gram bag of coffee (2,700 pesos), a panela (1,800 pesos), a pound of rice is worth (2,700 pesos).
Minimum wage in Venezuela 2021
Despite the fact that Maduro did not show intentions to increase the minimum wage by early 2021, calculations suggest that the future increase would be 60%, and would be set at 640,000 bolívares, around 2,200 Colombian pesos.
If this increase occurs in the coming months, it would be a rise of 240,000 bolivars more compared to what Venezuelans currently receive.
Venezuela minimum wage vs. that of Colombia in 2021
The new minimum wage in Colombia has received thousands of criticisms from citizens, who consider that the 3.5% that the Government decreed will not be enough for anything. The new amount was set at 908,526 pesos plus transportation assistance of 106,454 pesos.
Although the comparison is hard, the difference between what Colombians earn compared to Venezuelans is abysmal.
This is the trill that President Iván Duque published this week to announce the new minimum that Colombian workers will earn in 2021:
New minimum wage for 2021. For the first time in the history of Colombia and fulfilling a campaign promise, it will exceed, including the transportation subsidy, one million pesos. In total it will be located at $ 1,014,980. (SMMLV $ 908,526 + transportation assistance $ 106,454).
– Iván Duque 🇨🇴 (@IvanDuque) December 29, 2020
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