The economic initiatives include changes to the country’s multi-tiered exchange rate, a rise in the domestic price of gasoline, the implementation of a new tax system, and placing more power over food distribution in the hands of organised communities.
By Mario Villegas/Victor Alvarez- QuintoDia.Com, May 5th 2015
Leftist economist and former high-ranking government official Victor Alvarez offers a critical perspective on state economic policy under the Bolivarian Revolution, arguing that it has perpetuated a neo-rentier logic via exchange controls and other measures that must be abandoned for socialism to advance.
President Maduro passed five new laws yesterday in an attempt to create a stronger social safety net in the face of ongoing economic difficulty within Venezuela. The five laws, encouraging employment, creating greater guarantees in existing social programs, strengthening the power of communal councils and community financing, and increasing the rate of food subsidies, were all passed via the Enabling Law, which allows the President limited lawmaking for a temporary period.