Venezuela president Maduro increases minimum wage by 300 per cent as inflation approaches 2 million per cent

Venezuela‘s president has raised the country’s minimum wage by 300 per cent as part of routine wage increases as his government battles hyperinflation. Nicolas Maduro increased the minimum wage to 18,000 bolivars, around £5.20, per month amid an economy suffering from annual inflation nearing two million per cent. Mr Maduro announced his economic plans at the start of his second, disputed, term on Monday, as calls increased for him to surrender power.

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