The Petro Coin, Latest news in Venezuela.
Good evening, to the expectations we are all Venezuelans with the economic measures taken by President Nicolas Maduro, since the current currency (the strong bolivar) will be in effect until next Monday, August 20, to enter into force from that date (the sovereign bolivar).
Today in the national chain the president announced that "Each petro, has been set its value in dollars in an amount of 60 dollars or more, which is the price of a barrel of oil and each petro will be quoted at 3,600 bolivars", this means that the The value of the petro is equivalent to 360 million bolivars of the current currency and 3600 sovereign bolivars of the currency that will come into effect next Monday.
I also announce the value of minimum wages and pensions, which will be anchored to the petroleum, which will equal 1800 sovereign bolivars, half petro, according to the new values
set by the Government imply that the new minimum wage will be equivalent to 30 dollars.
In the same way, I indicate that the Value Added Tax (VAT) will go from 12% to 16%, and referred to the "sumptuary consumer goods". The Income Tax (Islr) will also be modified, as well as the payment made by the companies
The Venezuelan people live on the anguished days, if the situation of our country improves or not, as it is harder and harder for our relatives to support their families because of the low purchasing power due to high inflation and bad policies. Likewise, the shortage of cash due to the rules implemented in both public and private banks due to the devaluation of the bolivar.