US sanctions harming Venezuelan people, experts warn
Jesus Silva
Press TV, Caracas
Experts in Venezuela have warned about the harmful effects of US sanctions on the lives of Venezuelan employees.
Economists in Venezuela say sanctions by Washington have lowered salaries, sent inflation to increasingly higher levels and left a dire impact on consumers. However, Venezuelan officials say the US punitive measures, which they describe as aggression, will be overcome and the economy will be restored.
Several experts have agreed that during the second half of 2019, escalating US sanctions that continue to hit this oil-rich Latin American country have worsened the population's living conditions. They say it has caused soaring inflation levels and heavily weakened consumer spending power.
Economists also say that Washington’s targeting of Venezuelan oil assets has left the country’s economy struggling to provide a rise in wages. The national minimum wage is currently the equivalent of five dollars per month. Likewise, given the fact that 65,000 bolivars per month is the current official minimum wage and there is concern that the wages are among the lowest paid to workers around the world.
Others have a different point of view. They deny that US sanctions are the root cause of the country's economic woes. However, many employees accuse the US government of affecting the lives of Venezuelan people. Senior officials also blame Washington but have vowed to overcome the country's economic hardships.
Although the US government is ramping up efforts to make Venezuela's economy collapse, many still hope President Maduro can handle the crisis and improve people's living conditions.
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