Venezuela's President Nicolas Maduro speaks during a special session of the National Constituent Assembly to present his annual state of the nation in Caracas, Venezuela January 14, 2019. REUTERS/Manaure Quintero

CARACAS (Reuters) - Venezuelan President Nicolas Maduro on Monday raised the minimum wage by 300 percent to 18,000 bolivars per month, around $6.70, as part of routine wage hikes in an economy suffering from annual inflation approaching 2 million percent.