Venezuela raises monthly minimum wage to $240, pensions to $70

Venezuela's acting President Delcy Rodriguez announced Thursday an increase in the country's "comprehensive minimum income" to the equivalent of $240 per month, alongside a rise in pensions to $70.

Speaking at a public event in the capital Caracas, Rodriguez said the measure applies to both public and private sector workers, describing it as the "most significant increase in recent years," the El Nacional daily newspaper reported.

The government clarified that the adjustment refers to a broad income scheme that includes base salary and state bonuses rather than a purely wage-based increase.

Rodriguez urged the private sector to apply this $240 minimum to cases where employee income is currently lower, adding that pensioners will receive the equivalent of $70 per month.

The announcement comes as Venezuela continues to face prolonged inflation and currency depreciation due to ongoing US sanctions.