DistantNews
🇻🇪 Venezuela /Economy & Trade

Fedecámaras VP: Minimum Income Adjustment a Step, But More Economic Growth Needed

From El Nacional · (13m ago) Spanish Mixed tone

Translated from Spanish, summarized and contextualized by DistantNews.

TLDR

  • Tiziana Polesel, vice president of Venezuela's Fedecámaras, stated that the recent adjustment to the minimum integral income is a step forward but insufficient for workers' dignity.
  • She emphasized that true improvement requires economic growth and better legal and fiscal conditions for national businesses.
  • Polesel noted that while many companies already paid above the new minimum, the adjustment is still seen as a necessary, albeit small, step toward formal employment and dignified wages.

Tiziana Polesel, the first vice president of the Federation of Chambers and Associations of Commerce and Production of Venezuela (Fedecámaras), has offered a measured response to the government's recent adjustment of the minimum integral income. While acknowledging it as a step in the right direction, Polesel stressed that much more needs to be done to ensure workers receive a dignified income.

I believe it is a step or a stepping stone to continue advancing in the search for formal employment and for us to achieve an income that has dignity, which workers require, but there is still much to be done.

— Tiziana PoleselTiziana Polesel's assessment of the minimum integral income adjustment.

"I believe it is a step or a stepping stone to continue advancing in the search for formal employment and for us to achieve an income that has dignity, which workers require, but there is still much to be done," Polesel stated in an interview with Unión Radio. She highlighted that for the income of workers to truly improve, the country needs a context of economic growth.

Polesel also pointed out that many affiliated companies were already paying amounts higher than the newly announced minimum. According to Fedecámaras's 'Coyuntura' survey, the lower-earning segment of employees already received, on average, more than the adjusted minimum. However, she conceded that some companies might still be paying below the new threshold and were awaiting official announcements to adjust their payrolls.

In the Coyuntura survey, in the block of jobs that earn the least, an amount higher than this was already observed, but on average.

— Tiziana PoleselPolesel explaining the survey data regarding current wages compared to the new minimum.

Furthermore, Polesel underscored the critical need for improvements in legal security and fiscal aspects for national companies. She also called for a modernization of the Labor Law, suggesting that these structural changes are essential for fostering a more robust and equitable economic environment. Fedecámaras's position underscores the ongoing challenges faced by Venezuelan businesses and workers in achieving sustainable economic recovery and fair compensation.

National companies require improvements in legal security and fiscal aspects, as well as a 'modernization' of the Labor Law.

— Tiziana PoleselPolesel outlining the necessary improvements for Venezuelan businesses.
DistantNews Editorial

Originally published by El Nacional in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog