Minimum Wages in Venezuela increased to 150000 VEF/Month on October 1st from 40000 VEF/Month in April, according with the decree published in the Official Gazette. It is the third hike this year. In 2018, the minimum wage was raised five times.

Minimum Wages in Venezuela averaged 109178051.92 VEF/Month from 1989 until 2019, reaching an all time high of 4000000000 VEF/Month in April of 2019 and a record low of 4 VEF/Month in January of 1989. This page provides - Venezuela Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Venezuela Central Bank

Minimum Wages in Venezuela is expected to be 6000000.00 VEF/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Minimum Wages in Venezuela to stand at 95000000.00 in 12 months time. In the long-term, the Venezuela Minimum Monthly Wages is projected to trend around 95000000.00 VEF/Month in 2020, according to our econometric models.

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Venezuela Minimum Monthly Wages

Actual Previous Highest Lowest Dates Unit Frequency
150000.00 40000.00 5196000.00 4.00 1989 - 2019 VEF/Month Monthly

Venezuela Minimum Monthly Wages
In Venezuela, minimum wage refers to the lowest gross wage per month. There is also a minimum wage set for apprentices and pensioners. A Christmas bonus - Aguinaldo -(from 15 days to 4 months' pay) and a vacation bonus are compulsory for all employees.