Venezuela orders 2-day work week https://encry
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Posted On: 04/27/2016 3:24:54 PM
Venezuela orders 2-day work week
Blackouts, Zika, recession and now this: a two-day work week. This is life in Venezuela, a crisis-stricken country.
Venezuela's President Nicolas Maduro decided Tuesday night to shorten the work week to two days -- Monday and Tuesday -- in an effort to save energy and electricity. The country's most important source of electricity, El Guri dam, has record-low water levels.
Maduro had previously announced earlier in April that all Fridays through May would be holidays for public sector employees. Now Wednesdays and Thursdays will also be holidays for public sector workers at least until the end of May.
Maduro said the upcoming weeks will be "critical and extreme" for the country.
It's the latest setback for a country riddled with an economic crisis, political infighting, food and medical supply shortages and the Zika virus. Expert say the power crisis could be the last straw for Maduro.
"The power crisis is likely to hit Mr. Maduro's popularity and this could ultimately prove to be his undoing," says Edward Glossop, an emerging markets economist at Capital Economics, a research firm.
According to Venezuela's statistics, there are roughly 2.6 million public sector employees, which represents about 20% of the country's workforce. It's still officially unclear if Venezuelans will be paid for all five days of work or just two days.
Blackouts, Zika, recession and now this: a two-day work week. This is life in Venezuela, a crisis-stricken country.
Venezuela's President Nicolas Maduro decided Tuesday night to shorten the work week to two days -- Monday and Tuesday -- in an effort to save energy and electricity. The country's most important source of electricity, El Guri dam, has record-low water levels.
Maduro had previously announced earlier in April that all Fridays through May would be holidays for public sector employees. Now Wednesdays and Thursdays will also be holidays for public sector workers at least until the end of May.
Maduro said the upcoming weeks will be "critical and extreme" for the country.
It's the latest setback for a country riddled with an economic crisis, political infighting, food and medical supply shortages and the Zika virus. Expert say the power crisis could be the last straw for Maduro.
"The power crisis is likely to hit Mr. Maduro's popularity and this could ultimately prove to be his undoing," says Edward Glossop, an emerging markets economist at Capital Economics, a research firm.
According to Venezuela's statistics, there are roughly 2.6 million public sector employees, which represents about 20% of the country's workforce. It's still officially unclear if Venezuelans will be paid for all five days of work or just two days.
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