economy
May 5, 2026
Labor Minister assured that the increase in the comprehensive minimum income is a “temporary measure”
El Diario Venezuela - elDiario.com - Labor Minister assured that the increase in the comprehensive minimum income is a “temporary measure”
TL;DR
- The increase in Venezuela's comprehensive minimum income will be given as bonuses, not a salary increase, to control inflation.
- Minister Carlos Alexis Castillo described the bonus system as a temporary measure to manage the current economic crisis.
- The comprehensive minimum income was raised to $240 monthly, while the minimum wage remains frozen at $0.27.
- Retired individuals will receive the equivalent of $70 per month.
- Venezuela experienced 71.8% inflation in the first quarter of 2026.
- The government stated these increases are linked to oil revenues and agreements with the U.S.
- Official and opposition union leaders reportedly agreed to the measure.