• Fisherman Antonio Tello jokes around with his daughter, Genesis Tello, as they clean oil off of crabs that he caught in Lake Maracaibo, on Punta Gorda beach in Cabimas, Venezuela, in July. | AP
    Fisherman Antonio Tello jokes around with his daughter, Genesis Tello, as they clean oil off of crabs that he caught in Lake Maracaibo, on Punta Gorda beach in Cabimas, Venezuela, in July. | AP

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CARACAS – Venezuelan President Nicolas Maduro ordered a 275 percent increase in the monthly minimum wage on Monday, the third hike this year, as hyperinflation drains the value of workers’ salaries.

The minimum wage rose to 150,000 bolivars ($8) from 40,000, lawmaker Francisco Torrealba, a former labor minister and close ally to the socialist president, wrote on Twitter on Monday. In addition, workers will receive a food bonus of 150,000 bolivars, he added. It’s the second time in a row the announcement has come via a lawmaker, rather than the president.

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