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May 3, 2023
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Head of State announces increase in the minimum vital income with permanent indexation

The President of the Bolivarian Republic of Venezuela, Nicolas Maduroduring his speech at the march held in Caracas for International Workers’ Day, attended the proposals presented by the Bolivarian Socialist Central of Workers, one of them is to bring the Cestaticket to 40 dollars and the Economic War bond to 20 dollars per month, indexed to the fluctuation of the rate of the Central Bank of Venezuela.

The head of state mentioned that the document delivered contains eight proposals that were accepted and approved in their entirety, for the social welfare of the workers and ratified his commitment to the working class to reach the full recovery of income.

The proposals approved were the following:

1st Support the national public income by applying the tax policy that imposes taxes and obligations on the great profits of national and international oligopolistic capital.

2nd Financially leverage the system of savings, recreation, tourism and labor sports.

3rd Make an effort to rescue all spaces of social security and Ipasme, together with the health infrastructures of large state companies, incorporating the Bricomiles in order to carry out an extraordinary plan for their recovery.

4th Create a high-level national commission to study the new collective labor agreements in the public sector to adapt them to the new stage and allow the full recovery of workers’ wages.

5th An increase in the Cestaticket to 40 dollars, which will be updated periodically according to the rate published by the Central Bank of Venezuela and establish the Economic War bond at 20 dollars, for a minimum income of 60 dollars, applying the indexation criteria on a monthly basis for that it does not deteriorate due to the change in the value of the dollar.

6th The Digital Bank of the Working Class will come into operation next August, to support the workers’ savings banks.

7th Establish a housing plan that works for the working class and their families and reform the law that governs the National Housing Bank.

8th The National Institute for Socialist Educational Cooperation (Inces) will be attached to the Ministry of Popular Power for the Social Process of Work, with the aim of guaranteeing the training process and the accreditation of knowledge of workers and workers.

Likewise, the President of the Bolivarian Republic of Venezuela, Nicolás Maduro, also indicated that this is an emergency plan that will help stabilize the minimum monthly income, to go towards the progressive recovery of the Venezuelan economy.

VTV/YG/GT

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