• VENEZUELA’S MADURO HIKES SALARIES BY 30 PERCENT

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    CARACAS: Protest-hit Venezuela President Nicolas Maduro on Tuesday (Wednesday in Manila) raised minimum wages by 30 percent, after a 10-percent hike in January, chasing the country’s 59.3 percent inflation rate —Latin America’s highest. “I have decided on an increase in the national minimum wage and pensions of 30 percent to get them where they need to be for life in our country,” the president said, in an address to workers at the presidential palace. Maduro promised another increase for later this year. At the government-set exchange rate, the new minimum monthly salary would be the equivalent of $657 a month; but the black market rate for the greenback would give workers closer to $67 a month.

    AFP

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