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Deficiencies that enhance

The current situation requires observing the economic fact that in the last two decades allows us to graph, almost in parallel, the logic of the capitalist, underdeveloped and rentier accumulation process of the Venezuelan economy.

Unilateral coercive measures are a concrete manifestation of the set of aggressions of which an entire nation has been a victim and exponentially accelerates the exhaustion of the prevailing accumulation model, opens a stage of transition towards the new, under atypical conditions that limit the economic performance of the country.

During the presidential period of Hugo Chávez, economic activity in 2013 registered a growth of 57% compared to 1999. Disaggregating the indicator we find that activities such as construction grew by 90%, commerce by 93%, manufacturing by 30% and the sector financial by 384%.

Oil production for 2013 reflects a contraction of 22% compared to 1999. On average, crude oil production was 3.094.878 barrels per day. The behavior of prices for 1999 was about 16,04 USD per barrel, subsequently a recovery process began that reached a price of 86,81 USD for 2008, which was affected by the crisis that broke out in the financial heart. of the United States—at the end of 2007—which generates a contraction in the price for 2009 until reaching its peak in 2012 with 103,42 USD.

When examining FOB exports of goods—which includes the origin of the foreign currency acquired by the economy—we find that in 1999, 77% came from the sale of oil, while in 2013 the value stood at 96%. That is, of every 100 USD that enters the country, 96 USD is the product of placing oil on the global market.

The economic growth between 1999-2013 was rooted in the appropriation of income by the banking and commercial sector that, with a destabilizing scenario (strikes, coups d'état) and embodied struggle for power in which the economic actors parasitized the economy like never before . This collapsed economy was also inherited by President Maduro. There were mistakes, as in all politics, but linear comparisons are extremely inaccurate and dishonest.

Recovering the economy we have today requires dialectics and a permanent critical perspective to confront with innovation the multiple obstacles that magnify the needs that our economy presents. The economic team has not had an easy time maneuvering in the midst of so much turbulence — falling oil prices, sanctions, pandemic — without losing the center of all action in Revolution: protecting the sovereign. Finally, all aggression has been nothing more than a flight simulation that has given us valuable capital: understanding necessity as a lack that empowers.

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