Venezuela’s President Maduro announces 16 consecutive quarters of economic growth, suspends municipal taxes, and strengthens currency stability amid U.S. sanctions. Learn more about the new economic measures.

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President Maduro Highlights Economic Resilience Amid Challenges

Venezuelan President Nicolás Maduro announced that the country has achieved a significant milestone by recording 16 consecutive quarters of economic growth. During a recent speech, President Maduro emphasized that Venezuela is prepared to face any scenario, ensuring production, supply, economic growth, and meeting the population’s needs.

Government Pledges Stability Amid “Economic War”

President Maduro reaffirmed the Venezuelan government’s commitment to tirelessly work toward maintaining economic stability and overcoming challenges posed by what he described as an “economic war” led by the U.S. government. In this context, the president decreed the suspension of municipal taxes affecting primary productivity, a measure set to take effect next Monday.

Progress in National Production and Currency Stability

The head of state also shared positive developments in national production, stressing that those who truly love Venezuela should not promote the use of the “war dollar” or the parallel dollar. He called for respect toward establishing a market-driven dollar rate that supports economic stability, growth, and the country’s needs.

New Financial Mechanisms to Strengthen the Economy

Finally, Nicolás Maduro instructed Executive Vice President Delcy Rodríguez and the Central Bank of Venezuela (BCV) leadership to implement new technological mechanisms for the development and interaction of the Venezuelan foreign exchange market. The goal is to defend the market-driven dollar and bolster the national economy.

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