Chavez To Increase Minimum Wage 25%

CARACAS -(Dow Jones)- Venezuela President Hugo Chavez said Friday his government will likely increase the minimum wage 25% to 400,000 bolivars ($1=VEB1,920) this year.

"We will place the minimum wage at around VEB400,000" this year, he said while speaking at the "Social Debt" forum held in Caracas.

Venezuela's minimum wage now sits at roughly VEB321,000, or $167 a month at the official exchange rate.

Chavez, a self-declared leftist and champion of the poor, has vowed to pay poor Venezuelan's the "social debt" owed to them after suffering years of neglect by corrupt governments.

He has made several changes to labor laws in the South American country that he claims have helped Venezuelans keep up consumption.

The Andean economy grew 17.3% in 2004, a turnaround from a two-year recession that crippled the economic activity. Business leaders expect gross domestic product to reach 5% growth in 2005.


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:bounce:

Of course, bushCartel & the rethugs ain't gonna like it. But hey, fuck em. Contrary to their belief, America does NOT own the entire world.

but damn good for Venezuelans! WTG Chavez!!!!

your back, Hugo Chavez. Leaders of the People have been known to be offed by greedy jealous fascists!

No doubt Die Reichimpanzeenfuhrer will try to oust Chavez in a coup, or perhaps order his assassination.

what it would be like to live under a president like Chavez. What would it feel like to cheer on a president like him day after day? What would it be like to feel hope?

Permanezca seguro, Chavez!

Pay workers a decent wage?!?! Why that's down right Communist!