Venezuela raised the minimum monthly wage by 289%, moving from the equivalent of 64 US cents to around $2.40 at the exchange rate estimated by the country's central bank.
The Latin American nation is experiencing its fourth year of hyperinflation, and its seventh year of recession, amid an unorganized dollarization process.
As of this month the minimum wage will increase from 1.8 million bolivars to 7 million bolivars, said Labor Minister Eduardo Pinate, adding that food stamps that state workers are set to receive will also increase.
The new income of $2.40 plus a food bonus is now $3.50 can buy a kilogram of cheese and a liter of milk, Reuters wrote.
President Nicolas Maduro has raised the minimum wage twice in 2021 amid a severe recession as the world faces the deadly pandemic.
Government employees push for more resignations as they receive the lowest salaries in the country.
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