Venezuela's Maduro hikes minimum wage for fifth time in a year

Venezuela's socialist President Nicolas Maduro announced on Sunday a 50 percent hike in the minimum wage and pensions, the fifth increase over the last year, to help shield workers from the world's highest inflation rate. The measure puts the minimum monthly salary at 40,683 bolivars - about $60 at the weakest exchange level under the state's currency controls, or $12 at the black market rate. "To start the year, I have decided to raise salaries and pensions," he said on his weekly TV and radio program. More…