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    Venezuela Εconomic Situation

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    par far

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    Venezuela Εconomic Situation

    Post  par far on Wed Jan 20, 2016 4:02 pm

    "After 15 years of Chavism -under Hugo Chavez and now under Nicolas Maduro – Venezuela is dying. The country holding the largest proven oil reserves on the planet is now a nation in deep social crisis".


    http://southfront.org/opinion-and-now-where-will-go-venezuela/
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    Walther von Oldenburg

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    Re: Venezuela Εconomic Situation

    Post  Walther von Oldenburg on Thu Jan 21, 2016 8:52 pm

    That was destined to happen.

    Ezperiments are OK when done in laboratories, not good if the fate of entire country depends on them. And Venezuela's economic experiment is a through failure.

    Generous subsidies for the poor are of little importance if the whole system is damaged.
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    George1

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    Re: Venezuela Εconomic Situation

    Post  George1 on Thu Feb 04, 2016 4:10 am

    Venezuela also spent too much in aiding other countries GDP, like Nicaragua and Cuba. And it was an ideological policy clearly, no actual benefit for Venezuela.


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    George1

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    Re: Venezuela Εconomic Situation

    Post  George1 on Sat Feb 20, 2016 3:42 pm

    Maduro Announces Gasoline Price Increase, Venezuelan Bolivar Devaluation

    Venezuelan President Nicolas Maduro announced an increase in the price of gasoline in the country and the devaluation of the national currency.

    MEXICO CITY (Sputnik) – The price of gasoline will go up from $0.01 per liter to $0.95 per liter starting from February 19. The Venezuelan bolivar will weaken from 6.3 to 10 bolivars per dollar, according to Maduro.

    "This new system will have to ensure two things: the payment of what is invested in the production of hydrocarbon in addition to the healthy functioning of PDVSA [state-owned Petróleos de Venezuela oil and gas company]," Maduro said as quoted by NTN24 on Wednesday.

    In January, Maduro declared an economic emergency in Venezuela. The announcement came two days after Venezuela’s oil price dropped to $24 a barrel, the lowest mark in 12 years. Up to 96 percent of Venezuela’s budget depends on oil revenues.

    Maduro accepted partial blame for the economic situation in the country in an address to the National Economic Council, stressing that Venezuela needs to replace all sources of income from oil with other sources.

    Public discontent with Maduro’s government has been growing in Venezuela amid grave economic problems, largely contributing to the victory of the opposition MUD (Democratic Unity Roundtable) group in the December 2015 parliamentary elections.

    Read more: http://sputniknews.com/latam/20160218/1034939459/gasoline-price-increase.html#ixzz40if8YDqY


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    George1

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    Re: Venezuela Εconomic Situation

    Post  George1 on Mon May 09, 2016 11:09 am



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    flamming_python

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    Re: Venezuela Εconomic Situation

    Post  flamming_python on Mon May 09, 2016 11:15 am

    Yup their situation is dire
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    sepheronx

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    Re: Venezuela Εconomic Situation

    Post  sepheronx on Mon May 09, 2016 3:06 pm

    Sad. It really isn't rocket science to fix their issue. But oh well.

    Svyatoslavich

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    Re: Venezuela Εconomic Situation

    Post  Svyatoslavich on Tue May 10, 2016 4:01 am

    The cause is simple: Latin American populism. Here the poor person is considered a victim of society, while anyone from middle class and above is privileged. So the solution is to squeeze everything from middle and high classes through taxes, and give lot of aids to poor people who then won't care about studying or getting a job. And then everything crashes. As a solution we elect rightist ideologists (as Argentina has just done) who sell everything to foreign investors, get a lot of external debts, asks for help from the IMF and the World Bank, and everything crashes again. And the pendulum never stops oscillating between those two failed ideologies.
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    George1

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    Re: Venezuela Εconomic Situation

    Post  George1 on Tue May 10, 2016 6:54 am

    Ι think in Venezuela case that the critical point it was that revenues from oil past years didn't used to expand other sectors of economy and invest in sectors that can antagonize other countries in Americas (for example universities and medical centers)


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    sepheronx

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    Re: Venezuela Εconomic Situation

    Post  sepheronx on Tue May 10, 2016 6:58 am

    Agreed with George.

    While I do not fully endorse the concept of Austerity, there should have been at least some Austerity. All this defense spending for a small country like Venezuela while important, shouldn't have been overtly induldged too much (new multipurpose aircrafts like Su-30M series, Chinese K-8 jet trainers, newer comm equipment, etc was important but not those old T-72 tanks and various other APC's). Money should have been diverted to produce pulp plants, recycling depots, expansion of agriculture sector and canning industry (very important), Universities and medical institutes who do research and development, and possibly on tourism. Lets face it, venezuela is a beautiful country and with the devaluation of the Bolivar, they could get some real good money with tourism. And products sold like alcohol and such would be well sought after.

    But seems they just blew it all when they had the chance to thrive.

    Svyatoslavich

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    Re: Venezuela Εconomic Situation

    Post  Svyatoslavich on Tue May 10, 2016 2:08 pm

    Also true. But Chavez believed that oil would reach 200 dollars per barrel and his country would live of oil rent like Saudi Arabia. It is shocking that Venezuela, which has lots of fertile lands, imports most of its food from neighbor Colombia.
    On the other hand, a good amount of money was invested in not so useful programs like developing a national satellite. Clear case of twisted priorities: invest first in most basic and critical stuff like producing your own food (it is not that Venezuela is a desert), and then slowly but surely start industrializing the country and in a few decades a local developed and produced satellite can be feasible.
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    KoTeMoRe

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    Re: Venezuela Εconomic Situation

    Post  KoTeMoRe on Tue May 10, 2016 2:13 pm

    Svyatoslavich wrote:Also true. But Chavez believed that oil would reach 200 dollars per barrel and his country would live of oil rent like Saudi Arabia. It is shocking that Venezuela, which has lots of fertile lands, imports most of its food from neighbor Colombia.
    On the other hand, a good amount of money was invested in not so useful programs like developing a national satellite. Clear case of twisted priorities: invest first in most basic and critical stuff like producing your own food (it is not that Venezuela is a desert), and then slowly but surely start industrializing the country and in a few decades a local developed and produced satellite can be feasible.

    Chavez?

    More like every Venezuelan governement since the early XXth century.
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    magnumcromagnon

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    Re: Venezuela Εconomic Situation

    Post  magnumcromagnon on Tue May 10, 2016 6:55 pm

    Puerto Rico has the exact polar opposite economic policies that were enacted in Venezuela, and how that turned out for the Puerto Ricans you may ask? Well...

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    George1

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    Re: Venezuela Εconomic Situation

    Post  George1 on Tue May 10, 2016 9:54 pm

    what i am afraid more is that without Venezuela's cheap oil same problems might appear in Cuba and Nicaragua


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    George1

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    Re: Venezuela Εconomic Situation

    Post  George1 on Sat May 14, 2016 11:53 am

    Economic Emergency Extended for Three More Months in Venezuela

    Venezuelan President Nicolas Maduro has extended the economic state of emergency in the country for three more months.

    MEXICO CITY (Sputnik) – Maduro declared an economic emergency in Venezuela in January. The announcement came two days after Venezuela’s oil price dropped to $24 a barrel, the lowest mark in 12 years. Up to 96 percent of Venezuela’s budget depends on oil revenues.

    "I will proceed to sign…a new decree…that would allow us during the months of May, June, July…to recover the productive capacity of the country," Maduro said on national radio and television on Friday, as quoted by RCN Radio.

    Maduro accepted partial blame for the economic situation in the country in an address to the National Economic Council, stressing that Venezuela needs to replace all sources of income from oil with other sources.

    The initial economic emergency decree was valid for 60 days. It was subsequently extended for two more months in March.

    Read more: http://sputniknews.com/latam/20160514/1039600359/venezuela-emergency-extention.html#ixzz48cePGVTn


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    George1

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    Re: Venezuela Εconomic Situation

    Post  George1 on Sun May 22, 2016 10:34 pm

    North Koreans ensure the protection of Venezuelan President Nicolas Maduro

    http://bmpd.livejournal.com/1916616.html


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    NationalRus

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    Re: Venezuela Εconomic Situation

    Post  NationalRus on Tue May 24, 2016 3:58 pm

    Venezuela is FEELING THE BERN Smile

    i predict they have about 3 months left TOPS till total and utter collapse





    lol1
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    George1

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    Re: Venezuela Εconomic Situation

    Post  George1 on Sat Jun 18, 2016 4:57 pm

    More Than 400 People Arrested for Looting in Northeastern Venezuela

    Read more: http://sputniknews.com/latam/20160616/1041408666/venezuela-looting-arrests.html#ixzz4BwXL0Da0


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    George1

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    Re: Venezuela Εconomic Situation

    Post  George1 on Mon Oct 17, 2016 12:47 am

    Venezuelan President Nicolas Maduro has announced that over 80 percent of the country’s budget is now non-reliant on oil and will be formed with domestic taxes.

    Read more: https://sputniknews.com/latam/201610151046354400-venezuela-state-budget/


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    Airman

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    Re: Venezuela Εconomic Situation

    Post  Airman on Wed Nov 22, 2017 10:10 am

    Venezuela economy minister visits Ankara to negotiate petrol trade



    Venezuela's economy minister Tuesday visited the Turkish capital Ankara to discuss trade relations between the two countries, with a focus on petroleum.

    "We are interested in Venezuela's entire production of petroleum products, petrochemicals and petroleum coke," said Turkey's Economy Minister Nihat Zeybekci at the meeting.

    "We want to meet Turkey's needs [from that supply]."

    Zeybekci met with his Venezuelan counterpart Simon Zerpa as part of an ongoing process to develop trade relations in line with goals set by President Recep Tayyip Erdoğan and Venezuelan President Nicolas Maduro, who met most recently on Oct. 6.

    Tuesday's talks marked the third meeting in 45 days between the leaders of the two countries.

    Zeybekci stressed that Turkey and Venezuela hope to expand commercial relations as much as possible in the first months of the new year to reach trade goals by the end of 2018.

    "We promise we can come [to an agreement] quickly," said the minister. "By the end of January, the trade will be determined. [We will identify] what products we will buy, what the exchange will be, what we forecast for future trade volume."

    "Our mutual trade volume has increased 100 percent during the 10-month period of this year, and at the beginning of 2018 we will produce a big picture [of future trade relations]," Zeybekci added, saying that he and Zerpa plan to meet again before the end of January.

    Zerpa said Turkey and Venezuela are working to sign a second agreement on commercial relations.

    "We want to establish a strategic partnership between the two countries that will last for the next hundred years," he said, adding that petroleum products made up the bulk of negotiations.

    Zerpa also noted the importance of the deal in relation to Venezuela's efforts to revitalize its economy amid its ongoing foreign debt restructure.

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