Venezuela dealt a blow to those who predict the end of the Bolivarian Revolution due to the economic recession and “the government’s mismanagement.” Even under siege, this nation recorded the lowest inflation rate in the last 20 years in May.
This was announced by President Nicolás Maduro, in a meeting with PSUV leaders in the state of Zulia, where he also explained that economic growth in the first quarter was 7%, and estimates for this year are more than 8%.
The country has been growing steadily for eleven quarters, despite what Maduro has called “silent war”; that is, the constant sanctions of the United States Government.
If we review the current economic panorama of this nation, it is evident that, of the more than 900 unilateral coercive measures to which it is subject, most are aimed at economic asphyxiation.
Closing all possible doors in international trade, restricting and attributing the benefits of oil and gas production, provoking internal chaos and confrontation with other States, are the directions in which the White House tries, without success, to take the Homeland of Bolívar and Chávez.
However, recently the IMF and ECLAC placed Venezuela as the first country with economic growth in the region, above Paraguay, Uruguay and Peru, which are not sanctioned by Washington.
With the numbers achieved during the last year, the South American nation has consolidated its position as a leader in the Latin American economic landscape, and has demonstrated its resilience.
So much so that, for 2024, the UNDP forecasts an increase in average crude oil production by 73,000 barrels per day, as well as an increase in GDP by 4.2%, and private consumption by 2.5%. Meanwhile, he estimates that final inflation will be around 50%.
“All these data about the Venezuela that produces, that grows, were achieved with courage, with morality, with spirituality because the people said they would not give up and they did not give up,” said Maduro.
Beyond the figures, the country’s daily life shows that the creation of strategies and the design of policies to recover the economy have been the priorities of the Bolivarian Revolution.
