Venezuelan President Nicolas Maduro for the fourth time raised the rate of El Petro – Despite the negative forecasts of numerous experts, the Venezuelan authorities continue to actively develop the national digital currency El Petro. After a slight calming period, President Nicolas Maduro signed another decree for increasing the value of the coin from 9 to 36 thousand modern bolivars.

The minimum wage in the country has also been adjusted. It still makes up 50% of El Petro alone. However, if taking in account the Bolivars, the salary has increased significantly, although the value of this currency is almost zero due to high inflation.

Maduro signed another interesting decree on January 14. From this point on, state-owned companies pledge to sell 15% of oil for El Petro’s digital asset. First of all, it applies to the oil company PDVSA, the key player on the local market.

Speaking to members of the national constitutional assembly, the head of Venezuela said the following:

“Companies can put complete trust into me. I fully understand what I am doing. Over the next six years, our economy will become many times more efficient.”

The Venezuelan parliament, represented in the bulk by the local opposition, once again criticized Maduro’s actions. The absolute majority of parliamentarians are convinced that the president has violated one of the articles of the constitution.