President Hugo Chavez announced today the increase in the minimum salary. The increase will take place on July 1st. and will take the minimum salary to Bs. 218.592 on that date and later on Oct. 1st. it will rise to 237.600. The numbers are somewhat unclear as Chavez spoke of percentages which do not correspond to the announcements. Apparently the correct percentages are 15% in July and an 8% on top of that in October which would not correspond to the numbers announced by the President. The increase is compulsory for both the private and public sectors. People do need increases as inflation last year was 34% and it has topped 10% so far this year. However, the economy contracted more than 10% last year (we are still awaiting the statistics) and is expected to shrink by more than 10% this year. Thus the likely effect of the salary increase will likely be even more unemployment.
Chavez took advantage of his nationwide address to invite Venezuelans to participate in the May Day march organized by his supporters and the new Bolivarian union sponsored by his Government (One more oxymoron in Chavez’ policies). There will be two marches/demonstrations here tomorrow (which is a holiday) one by Government supporters and another one by the opposition. Their paths do not overlap, but there is always a risk of violence.
The Devil's Excrement 
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