One month’s salary in Venezuela

Venezuela, once known as the pearl of South America, has seen its economic woes cast a pall over people's expectations for stable jobs. In the past few years, wages have been falling sharply due to inflation and currency devaluation, making people's lives difficult. Data from 2019 show that the minimum monthly salary is 40,000 to 300,000 bolivars. However, due to severe inflation, the actual purchasing power of these amounts is minimal and difficult to meet basic living needs.

The root cause of economic problems lies in policy mistakes and the decline in international oil prices. The government tried to fill the fiscal gap by printing a large amount of money, but it led to hyperinflation, soaring prices, and severe wage depreciation. The Venezuelan people face challenges such as shortages of supermarket supplies and high living costs. Many people have to work more to make ends meet, while medical resources and social welfare are also stretched.

In the current situation, coping strategies include finding additional sources of income, such as part-time jobs or starting a business, while promoting frugal lifestyles, such as controlling consumption and saving. For some, immigration may be an option in search of a better life. Although the Venezuelan people face many difficulties, they have not given up and are actively coping with life's challenges.

In summary, the devaluation of wages in Venezuela has profoundly affected the people’s quality of life. Despite the difficulties, hope and change are emerging as the economic and political situation stabilizes. The Venezuelan people are resilient and believe that the future will bring a new dawn.