Minimum Wages in Venezuela increased to 4000000000 VEF/Month on April 16th from 180000000 VEF/Month in January, according with the decree published in the Official Gazette. It is the second 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.
Minimum Wages in Venezuela is expected to be 4000000000.00 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 6000000000.00 in 12 months time. In the long-term, the Venezuela Minimum Monthly Wages is projected to trend around 9500000000.00 VEF/Month in 2020, according to our econometric models.