As a response to increased shortages of basic goods in recent weeks, the Venezuelan government has announced it is in dialogue with members of the private sector and is taking measures to increase domestic production.
During a speech on Saturday, Venezuelan President Nicolas Maduro blamed food shortages on an “economic war” from the Venezuelan private sector, and assured the government is taking measures to resolve the issue.
The Venezuelan government appointed new management and renewed investment in the state-owned conglomerate Corporacion Venezolana de Guayana (CVG) and its subsidiaries, in efforts to raise production in Venezuela's industrial sector.
On Monday President Nicolas Maduro explained the outcomes of the government’s first “Street Government” carried out in Zulia state, including the recovery of Maracaibo Lake, expanding a wind farm, and a new newspaper.
The Venezuelan government hopes to encourage more foreign investment and a better relationship with the business community, President Nicolas Maduro stated yesterday.
Venezuela's government declared a state of emergency in the national electricity system yesterday. It will last for 90 days, and aims to attend to increased demand and protect electricity infrastructure from sabotage.
The Venezuelan government has announced a number of measures in recent days to combat currency and price speculation, both of which have become increasingly problematic in recent months.
Today members of the government held a press conference to inform the public about the new system for buying foreign currency. Called the Complimentary System of Foreign Currency Acquirement (Sicad), interim president Nicolas Maduro said it aims to “overcome the parallel market”.
The Venezuelan government has increased the banking sector’s financial obligation to fund construction and provide low interest mortgages as part of policies to broaden access to affordable housing.
Venezuelan government officials announced new measures in recent days to combat price hikes and speculation as a result of the recent devaluation of the exchange rate.
The U.S. imposed sanctions on a state-owned Venezuelan weapons company after it traded with Iran, North Korea or Syria, the State Department said in a statement posted on its website.
There has been much debate in Venezuela over the causes and likely consequences of last Friday’s currency devaluation, while the concrete political and economic impact remains to be seen.
