Deputy Angel Alvarado, a member of the National Assembly Finance Commission, reported that inflation in August was 65.2%. The most inflationary items during this period were goods and services, with a 113.5% price increase.
«What has generated this? This hyperinflationary policy has caused that at this moment the Venezuelan minimum wage only buys 2% of the food basket”, said the parliamentarian during a press conference.
Alvarado stressed that the salary is the lowest in the history of the country and the region, placing Venezuela as the fourth worst economic catastrophe in history.
Regarding the prompt announcement of new economic measures and the salary adjustment that will be carried out by Nicolás Maduro’s regime, the economist said that “ordinary citizens have understood that without increasing production or productivity, the only adjustment generated by wages is inflation”.
“From the day they announce the salary increase until the day employees charge it, the prices have already been adjusted, therefore, the worker or remains in the same place – economically speaking – or in many cases is in a worse position”, afirmed the parliamentarian.
He also said that “the dictatorship finances the salary increases with public spending and with the issuance of inorganic money from the Central Bank of Venezuela, action that only causes economic regression”.
Finally, Deputy Alvarado said that “none of the economic measures given by Maduro’s regime could solve the country’s crisis, on the contrary, they will remain ineffective. Venezuelans need more comprehensive measures, which at this time require a political precondition, that is, they need a rule of law that builds trust inside and outside the country.”
“A political change is required, which can generate an economic change in the country”, he concluded.