President Nicolás Maduro said that his cabinet is working on preparing the 2023-2030 economic growth plan. “There are 18 engines, an economic strategy that we have assumed since 2016 to resist (…) We are moving on to a new stage, of rebirth, the expansion of a new economy that does not depend on oil, a new economy that depends on new factors,” he explained.
The Venezuelan ruler Nicolas Maduro ordered this Tuesday, November 29, to reactivate the bank’s investment portfolio, both public and private, for the tourism sector, a measure that contemplates the expansion of credits in national and international currency.
«Presidents of private banks, drop the talk (sic). So that the talk that arrives in dollars, euros or yuan works to recover hotels and they are paid, “Maduro urged during the closing of the XV edition of the Fitven Anzoátegui.
The president assured that the level of delinquency in the country “is almost zero. People are lending, they are receiving credit and they are paying because they are prospering economically.
Investment Portfolio for Tourism will be reactivated throughout the banking sector, a measure that contemplates the expansion of credits in national and international currency, announced the Pdte. @NicolasMaduro pic.twitter.com/7Rs1Uhq7Zz
– Presidential Press (@PresidencialVen) November 29, 2022
Between March 2021 and March 2022, the bank’s loan portfolio would have increased in size by 29.1%, according to a report by the financial consultancy GlobalScope; while the Central Bank of Venezuela (BCV) indicates that as of April 15, 2021, the credit portfolio of universal banks was estimated at some Bs 1,645 million, which is equivalent to $371 million.
This figure represents only 0.82% of the gross domestic product (GDP) of Venezuela, according to the projections of the International Monetary Fund (IMF) for the country. This derisory growth has not allowed an increase in loans from public and private entities, a request that Maduro has repeated since the second half of the year.
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In addition, Maduro reiterated that his cabinet is working for the recovery of the country, which includes the preparation of the 2023-2030 economic growth plan. “There are 18 engines, an economic strategy that we have assumed since 2016 to resist (…) We are moving on to a new stage, of rebirth, the expansion of a new economy that does not depend on oil, a new economy that depends on new factors,” he explained.
Maduro repeated again the speech of the sanctions, in addition to the global problems that led to the fall in oil prices. “Whoever wants to buy Venezuelan oil, we will sell it to them and at the appropriate price. Gas? What comes with gas is fire, we have dozens of projects and Venezuela is certifying its reserves (…) Refining? We are going to expand the refining capacity.”
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He said that they will not make “the same mistake” as other governments, and are committed to agricultural production growth, in addition to goods and services. “Platica, which means wealth.”
In the activity, recognitions of the national tourism prize were also delivered and 75 million bolivars were approved in three projects to be developed for public, recreational and tourist spaces in the state of Anzoátegui.
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