During the act of delivery of the management report and the balance of the Executive Vice President Delcy Rodríguez before the National Assembly, she assured that the national currency has been revalued.
«The monetary re-expression program was launched and the Bolívar Digital was launched. Today we can show significant rates of recovery of our monetary sovereignty. Those who wanted the economy to be dollarized have come face to face with this reality,” he said from the Venezuelan parliament.
He highlighted that the unofficial dollar multiplied 7 times between 2020 and 2021, while between July 2021 and February 2022 it grew by only 15%.
He indicated that the policies applied have achieved that the official price governs the parallel dollar, “the recovery of the bolivar has been so significant that 91 people out of 100 have a bank account to consolidate the digital bolivar,” he said.
However, he stressed that the dollar circulates everywhere in the country. “The price control scheme was replaced by agreed prices and tax reforms were carried out.”
She stated that a new legal framework has been implemented to promote investments, the Anti-Blockade Law was applied, which is already bearing fruit, the dialogue was reactivated and the recovery of productive sectors was achieved, said the vice president.
“Oil production was recovered, which will produce 2 million barrels of oil this year. In addition, the currency reconversion program was launched », he explained.
successful policies
Delcy Rodríguez also reported that the economic policies applied by President Nicolas Maduro have been successful, from tariffs to the expansion of credit to the country’s productive sectors and export policies.
He stressed that this has also favored the country’s food sector. “In 2017 the food supply was 20% and in 2021 it was 89%, which has guaranteed food security.
Non-traditional exports increased by 76% in 2021, hotel occupancy increased by 94%.
Beating hyperinflation
In the search to put an end to hyperinflation, policies were applied that to date close at 2% inflation, having two months with single-digit inflation. In addition, there was an increase in tax collection of 120%.
“We have concentrated our efforts in sectors that have primary and processed foods such as corn. 60% of private companies increased their sales and industrial recovery was between 17 and 29 points.
