Translation of the article:
Venezuelan President Nicolás Maduro reaffirmed this Friday that Venezuela has overcome the economic crisis as an example of the defeat of the sanctions imposed against the country, while recovering its productive engines.
“We can tell the world that Venezuela is an example of how to defeat criminal measures of sanctions and blockade. We have managed to advance beyond them. We are prepared to continue working and producing, in addition, to articulate with the world”, he highlighted while adding that ‘we have recovered all the Productive Engines’.
The President, adding the need to decolonize Venezuela in all aspects of life, recalled that “Venezuela was subjected to more than 930 economic sanctions, criminal sanctions that had a devastating effect on national income, on the social rights of the people in their economic life and in satisfying their daily life”.
He highlighted food self-sufficiency and pointed out that “Venezuela had more than a century importing 85 percent of its food, it was easier to buy than to produce. But, little by little, we liberated the productive forces of the countryside. And by the end of this year 2024, we will have 100 percent of supply with national production”.
The head of state insisted that the country had a 30 percent drop in GDP by then and an annualized inflation that reached 344 thousand percent.
Likewise, he pointed out that there was an 80 percent shortage of products. In view of this, Maduro said that “we are warriors, we said: ‘Nobody surrenders in Venezuela’.
We faced the situation “with our own economic thinking, looking for our own models, seeking advice in various parts of the world, forming teams that allowed the promotion of 18 well-defined economic engines that began to be worked simultaneously to solve the problems of all sectors of the economy”.
By exemplifying that studies show that by 2018-2019, Venezuela lost 99 percent of its income, the president stressed that “we can say that it was an economic hecatomb, as powerful in its destructive effect, as any rain of missiles launched at the noble people of Gaza”.
“We set out to generate a system of protection through bonds to the most vulnerable sectors. We designed a comprehensive economic and social agenda. It was about moving the fibers of a people who were willing to fight, so that what is happening in Syria would not happen, that they would tear our country into four pieces and turn it into a colony after so many centuries of struggle,” said the head of state.
On the other hand, the President remarked that in 2020, the country received great support from China, “we must always be grateful for the support given to our country to face the Covid-19 pandemic and step by step we recovered each productive engine”.
Is there a full economic breakdown regarding how Venezuela’s economy has changed and improved, now being somewhat unhindered by sanctions?
Also if there is any information on what us to come next for Venezuela on the path of the Bolivaran revolution?
Not sure if I can produce a full report but here are a some graphs that may help(all of it is in Spanish). Sadly, most of the information is dispersed in a ton of places:
Inflation metrics:
Source -> https://www.telesurtv.net/venezuela-registra-la-tasa-de-inflacion-mas-baja-desde-2004/
Economic growth compared with other regional countries:
Food production in all sectors. (includes imports and local prod)
For your other question, yes, there is a plan which integrates models similar to China which is the Direct democracy and Popular Consultation -> https://www.telesurtv.net/consulta-popular-y-democracia-directa-la-propuesta-de-nicolas-maduro-para-el-nuevo-ciclo/
Thank you greatly, I used Google translate for the articles. A bit clunky but I seem to get the point.
Venezuela has managed to make an economy that is less effected by the sanctions and is attempting to improve sections that fall into the 7 categories they mentioned in order to further their success and self reliance.
Hopefully I got that summary correct.
Yeah! Basically, they improved their national production instead of relying from imports using petrol money. This strategy helped them stabilized inflation.
Also, they improved their industries while trading with Rusia, China, Colombia and Iran(except for Colombia all of the rest have massively invested on Venezuela).
That’s the only that I will add to your summary but overall you are right!
I had not heard much about Venezuela from Pax Americana fake news which do not even use Venezuela as distraction from the other war crimes, so I will believe that Venezuela recovered from economic sanctions. The fact that the USA government is the sole advocate of the sanctions and the belief by Pax Americana in the authoritarian foreign intervention proved the democratic support to Maduro. The Pax Americana also contradicts their Neo-Liberal policy for unrestricted free trades to “inevitably” bring democracy and peace or their claim that Venezuela could fall from Socialist “mismanagement” without the need for sanctions.
Thanks for the attempt tho!
Wow thank you
