President Maduro sets a Minimum salary of Bs. 18,000 and a Value of Petro’s in Bs. 36,000

During his speech before the National Constituent Assembly on Monday, Venezuelan President Nicolás Maduro announced the establishment of the Petro account unit. in Bs. 36 thousand, which places the minimum wage at Bs. 18 thousand (half Petro). He indicated that “from January 15 begins the process of automatic adaptation of all salary tables in the country,” which includes Public Administration workers, firefighters, police, teachers, military, and also The state assumes support for the private sector in the payment of salary differences.

The increase is 300 percent with respect to the last salary increase, made on November 29 and which had set the minimum wage at Bs 4,500.

In the speech, held at the Federal Legislative Palace, headquarters of the National Constituent Assembly (ANC), the Venezuelan President presented his Report and Account and the Plan of the Nation 2019-2025.

He also requested a Constituent Decree for a Tax Law on the Great Patrimonies, which “are the ones that press to cause the distortions” in the parallel or criminal dollar. “The time has come to build a fairer tax system that equates burdens,” the President said.

Likewise, the President ordered 23 state companies and the state oil company Pdvsa to sell 15 percent of its production for international markets in El Petro cryptocurrency, immediately. “If someone can not do this, tell me and give me your resignation,” he said.

Approved 1,037 million euros for the Planting Plan 2019

Maduro also approved 1,037 million euros to guarantee the planting of 3 million 235 thousand hectares, as well as the development of the logistics of the Plan Siembra 2019. This loan approved for the Ministry of Agricultural Production and Land of Venezuela, led by Wilmar Castro Soteldo, comes from a Strategic Reserve Fund.

The money will be destined to produce 25 million 802 thousand tons of vegetable product. He said that for the livestock sector 5 million 246 thousand metric tons of meat will be produced.

Clap boxes every 15 days in the first quarter of 2019

The Venezuelan president also indicated that in the first quarter of 2019 it is expected to regularize the distribution of food boxes of the Local Committees for Supply and Production (Clap) every 15 days. “We have to regularize the system, I set the goal for the first quarter. We have enough reserves. Now I want to bring the Clap boxes, in this first quarter, every fifteen days to the Venezuelan homes”.

He stressed that the Clap are a clear sign of resistance and struggle of the Venezuelan people. “What would become of Venezuela without the Clap?” He asked.

In the same idea, he indicated that this social protection system should expand its production with the aim of strengthening the timely supply of the market.

The Clap is a form of popular organization promoted by the national government so that the communities themselves supply and distribute the priority foods through a house-to-house delivery method, as a mechanism to combat the resale and contraband of the basic grocery items.

The legal reserve of 60% to national banks enters into force

Maduro also informed that this Tuesday, January 15, the legal reserve of 60% goes into effect to the national bank. “The board of the Central Bank of Venezuela (BCV), during ordinary session held on Tuesday, January 9, established the increase in the legal reserve to 60%, which should be constituted by the banking institutions on the obligations subject to reserve as from 14 January 2019 “, reports a BCV press release.

The aforementioned increase was made as part of the work carried out between the BCV and the National Executive to achieve the macroeconomic objectives of the Recovery, Growth and Economic Prosperity Program promoted by the Bolivarian Government.

The legal reserve is the percentage of deposits received, which banks and financial institutions have the obligation to maintain in the Central Bank. The legal reserve, is a backup for the solvency of banks and a monetary instrument used to restrict or expand the currency. If the legal reserve percentage is reduced, the money supply increases, and if it increases, then the supply of money is reduced.

Other announcements

  • It will reach 2 million young people incorporated in the “Chamba Juvenil” Great Mission for 2019, who will carry out agricultural production goals.
  • “Venezuela Bella”: created the mission to serve the 50 most populated cities in the country, with the joint work of the mission Barrio Nuevo, Barrio Tricolor, Chamba Juvenil and Cultura Corazón Adentro.
  • It will convert the Transport Mission into the Great Mission of Transportation Venezuela, recovering more than 2 thousand units and incorporating another 2 thousand.
  • It will reactivate the automotive industry: “I am going to meet with the automobile entrepreneurs in Aragua and Carabobo, if they need a start-up capital, I’ll lend them to them, or I’ll bring them the kits.” He indicated that the Yutong bus manufacturing plant in Yaracuy will be finish.
  • 250 million euros are invested in security and defense plans, to strengthen the peace quadrants with their communication system for citizen protection.
  • In health, achieve 100% immunization through the National Vaccination Plan, free and direct.
  • 2 thousand Cuban doctors and 500 specialists come to Venezuela, soon, to revive Barrio Adentro.

Source URL: Alba Ciudad

Translated by JRE/AR