Deputy Orlando Camacho: Rescuing the economy will reduce prices and improve the people's incomes

Published at: 04/05/2026 07:52 PM

Rescuing the economy will make it possible to order, organize and progressively reduce prices and improve the incomes of the Venezuelan people, said the president of the Permanent Commission on Energy and Petroleum of the National Assembly (AN), Deputy Orlando Camacho, referring to the comprehensive wage increase, recently announced by the president in charge of the Republic, Delcy Rodríguez.

In the program La Jornada, broadcast by Venezolana de Televisión, he highlighted that two plenary sessions have already been held to establish mechanisms to improve workers' incomes, and he stated that four working groups came together there with trade union federations, workers, businessmen and the national government, also accompanied by the Ministry of People's Power of Planning and the Venezuelan Institute of Social Security (IVSS).

He also pointed out that the main objective of the Bolivarian Government is to achieve together that the comprehensive wage increase does not impact the prices of products for the people.

In this regard, he pointed out that “it is important that costs are diluted, and that is done by selling more, not increasing the price of the products, that is, using resources so that the consumer can bring more products to their homes, without the need to increase it”.

Camacho also explained that there are several stages of the salary: first about 240 dollars of comprehensive income; to that, 9% is applied to him by the pension law, “that is, it already automatically increases the payment of the private sector to the contribution of pensions; that is even insufficient.”

He added that at the labor consensus dialogue tables there is a lot that will be discussed, “we are clear that the sanctions dealt a blow to the country's economy, which broke the wage gap, oil revenues, the destabilization of the economy, with the loss of natural customers, but that we are looking at recovery.”

On the reform of the Organic Law on Labor, Workers (LOTTT), he emphasized that it must arise from consensus between the parties and added that, to achieve positive results, any change must be the product of understanding between the Government, the private sector and the workers, as happened with the adjustment of the comprehensive minimum income announced last April 30.

Camacho recalled that since 2022, issues related to working hours, rest days and wage income have been addressed in the Social Dialogue Forum, with the participation of the International Labor Organization (ILO), employers' organizations and trade union federations, with the objective of advancing social welfare.

At this point, he argued that continuing to work at consensus tables will make it possible to advance in the formalization of employment as well as to evaluate the impact of the Social Security Pension Protection Act against the Imperialist Blockade on the income structure.

Mazo News Team