The economic crisis in Venezuela includes only eight products in the basic (food) basket at a cost $15.57, this week this is equivalent to 10 million 750 thousand bolivars, according to a study carried out by the Primero Justicia political party.
The economist and secretary of Primero Justicia in Carabobo, Néstor Olleros, indicated that according to the most recent fortnight paycheck received by public administration employees, the minimum salary has been increased to 1,200,000 bolivars (a month) or $1.73, amount which is insufficient to pay for the Food Basket.
“We have to talk about the sharp rise in the dollar in recent weeks. What we are seeing is an expansion in the money supply. It is incredible to see this as one of the largest monetary increases in the history of the country in 30 years,” he denounced.
Olleros explained that when the regime pays a series of bonuses, people seek to exchange it into foreign currency to preserve the value of their money, which translates into higher prices and further devaluation of the national currency.
Nicolás Maduro’s dictatorship devalued the bolivar and led Venezuelans to live between misery and poverty.