José Manuel González, the chair of the Venezuelan Federation of Trade and Industry Chambers (Fedecámaras), estimates that inflation at the end of this year will be at 30 percent, very far from the numbers provided by the national government at 19 percent.

In reference to a 30-percent hike of wages for public servants, the businessman said, "We would like to clarify that this new decision with no prior consultation violates international agreements and Venezuelan laws. As far as the issue of inflation is not countered, the increase will turn out to be water and salt. If the bottom line, the causes of inflation is not addressed, this increase will be deteriorated and the Venezuelans' purchasing power will be lessened."

"Having the highest inflation in the world and the best wage in the world is contradictory," he reasoned.

González refused the government populist character of the move and reported that underemployment and unemployment accounts for 60 percent of the labor force nationwide.