Although President Nicolás Maduro said that the minimum wage would be linked to the value of the petro (equivalent to half a petro), there is no reference to this in Venezuela’s National Gazette. *** This week it was published in Official Gazette 6.691, dated March 15, 2021, Decree No. 4.653, which establishes the salary increase, which as of this date is set at 130 bolivars, equivalent to a little more than 28 dollars per month. Not only the mandatory monthly minimum wage is increased, as well as the amount of Retirement and Pensions.
Official Gazette publishing the decree on the increase of the mandatory monthly minimum wage, as well as the amount of pensions and retirement benefits. # LettersToAlexSaab @NicolasMaduro @min_joserivero pic.twitter.com/2LwbA0DpED
– Min. Social Process of Work (@MinTrabajoVE) March 16, 2022
The petro does not appear
Lo curioso del caso es que aún cuando el mandatario nacional, Nicolás Maduro, había dicho en cadena oficial explícitamente que el salario mínimo estaría vinculado a la moneda digital digital technologies are these electronic tools that have the ability to generate, store or even process data. gubernamental, el petro, y que would be the equivalent of half a petro This does not appear in the aforementioned Official Gazette. This means that the petro was the unit of account an account is essentially a whose purpose is to track the financial activities of a specific asset/ for the calculation of this minimum wage, but since it was not established in the Official Gazette, the wage would not increase if the value of the petro increases. Gazette 6.691, issued on March 15, includes Decree 4.653, which states:
The mandatory monthly national minimum wage is increased throughout the territory of the Bolivarian Republic of Venezuela, for workers rendering services in the public and private sectors… establishing the amount of one hundred and thirty bolivars (130.00 VES) per month.
But, as we said, it does not name the conversion with the petro. This publication, then, would not present the statements of Nicolás Maduro, who earlier this month stated that the minimum wage would be raised to half a petro, linking the value of this monthly minimum wage to the value of the crypto asset.
Critics
Of course, the decree generated criticism from the Venezuelan population, as the amount is much lower than the basic food basket, which stood at $353 for the month of February this year, according to the Venezuelan Observatory of Finance (OVF). This decree and the lack of parity between this monthly minimum wage generated reactions among workers. One of them was the general coordinator in blockchain technology, a coordinator is a specialized client that allows nodes to verify the validity of their copy of the ledger against specific transactions. of the National Front for the Struggle of the Working Class, Pedro Eusse, who mentioned that this increase had been “an immense disappointment to discover that there is no such anchor to the petro because that is not reflected in the Official Gazette.” Eusse further stated:
They promised that they were going to anchor the salary to half a petro, which is an accounting measure that increases with the price of oil. What we see now is a salary frozen at USD $30.
For his part, Franklin Rondón, deputy to the National Assembly, the country’s legislative body, said that in this case, the petro was only used as a unit of account, and that doesn’t mean that the minimum wage increases every time this crypto asset increases in value. Sources: Official Gazette, Cocuyo Effect , Bitcoin.com , El Pitazo , Twitter, archivo Version of DiarioBitcoin Imagen de Unsplash
