Santo Domingo.- The National Federation of Traders and Businesses (Fenacerd) says that over the last 40 years the purchasing power of the minimum wage in the country has been reduced by 60% in relation to the price of the products in the basic family basket.
Federation president Ricardo Rosario warned that the salaries currently paid to public and private employees do not match the reality in the country and is below what they earned in 1972.
1972 the daily pay for a worker at the national sugar council (CEA), a
municipal worker or a decentralized company worker was RD$3.20, which bought 32 pounds of rice at 10 cents a pound, while today the daily pay for a worker is
around RD$270, which only buys 13 pounds of rice”, said Rosario addressing the
plenary assembly of Fenacerd members.
Rosario contrasted this situation with the inflated salaries paid to high-ranking government officials and legislators. "It's impossible to think that anyone can live on less than one dollar a day, while they discuss salaries ranging from RD$300,000 to one million pesos per month. We believe this is wrong and it needs to be corrected".