Payroll News

Venezuela Raises Minimum Wage for 10th Time in 24 Months

Oct. 18, 2019, 8:43 PM

Venezuela on Oct. 11 increased its minimum wage and required food bonus for the 10th time in 24 months, retroactively raising the monthly sum of these amounts to 300,000 sovereign bolivars since Oct. 1.

The sum of 300,000 sovereign bolivars consists of a monthly minimum wage of 150,000 sovereign bolivars and an equal monthly required food bonus, up from the monthly minimum wage of 40,000 sovereign bolivars and the monthly required food bonus of 25,000 sovereign bolivars that had been in effect since April 16, the government of Venezuela said Oct. 11 in Decree No. 3,997 and Decree No. 3,998,...

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