VOICED : El duro inicio de ano de los venezolanos por crisis economica

Luis Briseño, a 70-year-old entrepreneur, opened a small factory in Caracas 25 years ago. Despite building his wealth through it, he now considers closing due to economic difficulties. The 40% minimum wage increase by President Nicolás Maduro complicates matters. Briseño faces critical months ahead due to a lack of supplies, hyperinflation projected at 2,350% by the IMF in 2018, and two of his three employees planning to emigrate. The minimum wage, adjusted six times in 2017, is worth $238 officially but only $6 on the black market. Inflation limits basic purchases to 30 eggs, a kilo of meat, sugar, and onions. Venezuelan universities report poverty at 30.2% and extreme poverty at 51.5% in 2016, while the government reports lower figures.

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