Chavez enacts 25% increase in the minimum wage
The president also appointed Jorge Giordanni in charge of the Ministry of Finance and Planning, and appointed Ali Rodriguez Araque as new owner of Electric Power.

January 15, 2010 | 10:30 pm - PR


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President Hugo Chávez during a speech | AFP

President Hugo Chávez declared on Friday the minimum wage increase as of this March 1 at 10%, while from September 1 will enter into rigor up 15%, bringing the minimum wage for workers be placed in the approximate amount of twelve hundred Bolivars.

From the Chamber Protocol National Assembly, Chavez said that in total will be an increase of 25% without taking into account the benefit of tickt basket.

He stressed that the measure seeks to continue the reduction of poverty by raising income of the sectors that were forgotten for years.

The president today announced the merger of the Ministries of Finance and Planning and Development to create more consistency in economic work and left the country under George Giordanni.

In presenting his annual report 2009, the president appointed the officer after naming Ali Rodriguez Araque as the new Minister of Electricity.

Chavez explained that Giordanni not be responsible for two ministries, but will merge the objectives to work towards "strengthening the national economy."

Araque, was former finance minister and now will assume the role of Angel Rodriguez dismissed by the "bad performance" energy rationing plan in Caracas, as Chavez said before the deputies.