Venezuelan President Nicolas Maduro on Monday announced a 300 percent increase in the minimum wage in the country. As a result, it will grow from 4.5 thousand Bolivars to 18 thousand Bolivars (about $ 6.52), Al Jazeera said.

In 2018, the minimum wage was raised five times. Maduro also promised to stabilize the economy of the country, the scale of which over the past five years, the recession has halved. Inflation in Venezuela has recently been about 2 million percent. Residents of the country are faced with a shortage of food and medicine, which led to the fact that over the past three years, 3 million people have left the country.

“This is not the first time that President Maduro announces changes,” says Venezuelan analyst Ramón Pinango. face hyperinflation and deficiency. "

In Venezuela, consumer prices rose 1.3 million percent at the end of November 2018. It is reported that in November, the inflation rate was 144 percent compared to 148 percent in October, and in September - 233 percent.

The economic crisis in Venezuela began in 2014 due to lower oil prices.

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