The Venezuelan Economy To Grow Over 8 Percent in 2024: President Maduro
Venezuelan President Nicolas Maduro, June 12, 2024. Photo: X/ @Johany_Vzla
June 13, 2024 Hour: 8:17 am
The country’s economic diversification takes place despite the existence of 930 U.S. sanctions.
On Wednesday, Venezuelan President Nicolas Maduro held a meeting with the National Council of Productive Economy in the state of Apure, where he highlighted the growth and diversification of the national economy despite the existence of 930 imperialist sanctions.
RELATED:
Russia Has Made Great Contributions to Humanity: Venezuelan VP Rodriguez
Besides calling for a national dialogue to move the country forward, the Bolivarian leader emphasized the participation of Venezuelan entrepreneurs, who have been involved in building a new productive model and activating the 18 driving sectors of the economy. Maduro expressed his absolute faith in the people’s abilities to progress and advance towards making Venezuela an economic power.
“Now we move to a higher stage: the comprehensive reconstruction of the Social Welfare State without depending on anyone,” he said, reaffirming that the Venezuelan economy continues to grow.
“At this moment, we have the highest GDP growth in Latin America and the Caribbean. This year, we project an 8 percent growth, but everything indicates that we will surpass that figure despite the economic war,” Maduro stated.
“In the first five months of 2024, tax revenue reached US$4.3 billion, which represents a 93.8 percent growth compared to the same period in 2020. By December, we will have an increase of over 100 percent in tax revenue,” he added.
Currently, Venezuela produces about one million barrels of oil daily and has maintained 15 consecutive quarters of sustained agricultural production growth, a sector that shows a 5.8 percent growth this year. Non-traditional exports grew by 429 percent during the first five months of this year. This process has been accompanied by a slowdown in inflation and the stabilization of the exchange rate.
“We have achieved the most stable exchange rate between bolivars and dollars in the last 13 years. May’s inflation is the lowest Venezuela has had since 2004,” Maduro said, reaffirming that these macroeconomic indicators will enable the country to generate more production, exports, and income.
A Strong and Modern State
The Venezuelan president indicated that the application of correct public policies through a strong and modern state will ensure economic growth and equality, as well as the development of all economic sectors without adhering to rules imposed from abroad.
“We must sustain the reduction of the wounds inflicted on society by the economic war. We must guarantee the rights related to education, health, food, housing, and adequate income for workers and retirees,” he said.
Maduro emphasized that economic growth can only be guaranteed with social peace and consensus among all actors regardless of their political beliefs. He also urged the population to continue heroically and originally solving the problems generated by U.S. sanctions.
“Each recovered work is a victory against the U.S. sanctions. The extremism of the right, the economic war, and the sanctions have caused losses for everyone,” he pointed out, reiterating that the more income Venezuela earns, the greater the capacity to improve retirement pensions, salaries, productive loans, and investments in basic services.
“We are forward-thinking. We are the liberators of America, and we are demonstrating it in the economic field with a solid foundation to generate wealth, employment, and well-being,” the Bolivarian leader said, adding that the World Trade Organization (WTO) approved Venezuela’s entry into the Trade Facilitation Agreement.
President Maduro is Welcomed by the People
After the meeting with the National Council of Productive Economy, Maduro participated in several meetings where the Venezuelan people reaffirmed their support for him.
“We have strongly resisted imperialist sanctions. United, we have managed to move forward. I can tell the people of Apure: I have faced every circumstance and supported all struggles. The worst times are behind us, and now we are heading towards recovery and growth,” he said.
Subsequently, in the municipality of Camaguan in the state of Guarico, Maduro inaugurated the Jose Gregorio Hernandez Comprehensive Diagnostic Center, which was built by the Military Community Brigades for Education and Health (Bricomiles).
Source: VTV
teleSUR/ JF
