Castro Doubles Cuba Minimum Wage

Cuban President Fidel Castro announced on Thursday the minimum wage would be more than doubled to 225 pesos ($10) a month from 100 pesos ($4.50), effective on May 1. The raise will benefit 1.6 million Cubans who earn the lowest salaries in Communist Cuba, including farm laborers, plumbers, carpenters, bakers and undertakers. Castro made the announcement in the latest of his three-hour speeches addressing economic problems endured by Cubans since the collapse of the Soviet Union plunged Cuba into deep crisis. It was the eighth speech in 10 days broadcast live to the nation. "The increase will raise the minimum salary from 100 pesos to 225 pesos," the Cuban leader said. Castro said this would raise the average monthly wage in Cuba to 312 pesos ($14.20) from 282 pesos ($12.80) at a cost to the government of $48.4 million. [more]