The monthly minimum wage in Venezuela, for the floor: less than a dollar, which costs a kilo of flour

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It is charged by about four million pensioners and at least another four million workers. To eat, a family of five needs 300 minimum wages a month.

Millions of Venezuelans work every day to receive at the end of the month 0.92 dollars of salary, an amount that condemns them to hunger in a country with scandalous inflation and devaluation of the currency, failures in all public services and that, in addition, is going through the COVID-19 pandemic.

Thirteen months after the legal minimum wage hit the ground at settle at 2 dollars a month, the impoverishment of the country with one of the largest oil reserves in the world has shown that it knows no limits and that it will not stop in the short term.

Here are some keys to understanding the impact this salary will have on the lives of Venezuelans:

Salary is located at 400,000 bolivars per monthWhile the US dollar, the currency with which most commercial operations are completed in the country, is priced at 430,670 bolivars per unit.

In this way, Venezuela continues to fail to comply with one of the Sustainable Development Goals established by the United Nations since 2018, which calls on member states to eradicate extreme poverty before 2030.

The indicator par excellence to know if a person is located in poverty is determined earning less than $ 1.25 a day -Front of the 0.03 that millions of Venezuelans receive-, something that has happened in the South American country since July 2018 and that today has worsened.

Some four million pensioners and at least another four million workers. It’s about young and old, many of them supporters of families that are today ruined.

At least 10 million VenezuelanThey also receive eventual bonuses assigned by the Executive of Nicolás Maduro through a government census, but these disbursements occur on average every two months and never exceed $ 5.

This has caused thousands of workers, many of them professionals, to abandon their skilled jobs and engage in informal jobs, such as commerce or domestic work, where they earn some income in dollars.

Just to eat, a family of five requires about 300 minimum wages since the cost of the food basket is around 300 dollars, according to estimates by the Center for Documentation and Social Analysis (Cendas).

With 0.92 dollars a Venezuelan can buy a kilo of low quality corn flour or rice. Once that product is finished, surely in one or two days, that worker will have to wait another month to receive his 400,000 bolivars again.

The Government assures that Venezuelans are well fed thanks to the subsidized food delivery system known as CLAP (Local Supply and Production Committee), but this works irregularly, it does not cover the entire population, it is only enough to feed a family for about five days and does not include protein.

In the midst of the COVID-19 pandemic, which since March has subjected the country to confinement, the local currency has devalued 82.78% against the US dollar, while inflation for the first eight months of the year stands at 1,079.67%, according to data from Parliament.

Buying a dollar today in Venezuela is 480.84% ​​more expensive than in mid-March, when the first cases of coronavirus were detected in the country, a pandemic that so far leaves a national balance of 74,363 cases and 621 deaths.

In addition, the closure of numerous companies due to the pandemic, which translates into more unemployment. Venezuelans have had to endure gasoline shortages and increasingly frequent and prolonged failures in the supply of electricity, potable water, domestic gas and the internet.

According to the Survey of Living Conditions (Encovi), in Venezuela almost one in ten children under the age of five – about 166,000 – suffers from some type of malnutrition if the relationship between their weight and age is taken into account.


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