The minimum wage in the socialist country of Venezuela has crashed to under $2 a month as hyperinflation continues to shatter the country’s economy.
Breitbart News reported last month that, despite dictator Nicolás Maduro imposing five minimum wage hikes over the course of 2017, the minimum of 177,507 bolivares was worth just $4 a month.
Yet according to latest real value exchange rates, that figure is now just $1.83, working out at just over one cent an hour for a minimum wage job, the lowest in the world.
Venezuelans also receive a food ticket of 279,000 bolivares a month, bringing people’s total income to around approximately $3 a month, although most essential food products remain unavailable or unaffordable.
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