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Guarantees for the future economy

According to data available from the Central Bank of Venezuela, the nominal exchange rate registers a variation of 1,59% between January and June 12, 2024. That is, the price to buy a unit of the US dollar has risen slightly. Likewise, it is appropriate to point out that in the aforementioned period the bolivar has lost value – depreciation – with respect to the US dollar by -1,56%.

In order to better understand the behavior of the variable in question, we have that during the same period of 2023 the exchange rate registered a variation of 54,06% with a depreciation of -35,38%.

Another important variable to analyze the current economic situation is the National Consumer Price Index, which registers an accumulated inflation of 7,8% for May 2024. Special mention is made of the accumulated inflation for January-May 2023, which reported 96,3%. .

The behavior of these variables expresses symptoms of improvement that translate into incentives that contribute to macroeconomic stabilization. For this reason, international organizations (World Bank, IMF, ECLAC, among others) predict economic growth for the country of more than 4%.

Does this mean that Venezuela is fixed? No, such a statement reflects the profound ignorance of the complex situation that Venezuelan society has suffered as a result of illegal unilateral coercive measures. What has changed? We have learned as a society to adapt to overcome adversity. Understand more precisely the situation offered by an economy at war and adopt policies that allow us to create conditions for economic activity – oil and non-oil – as a whole to grow.

There is still much to do, it is no small thing to say that our productive apparatus lost three quarters of its size between 2013 and 2021, thanks to the criminal policy of siege and systematic aggression. In economics, problems do not disappear by magic, much less by luck. At this point we have a coherent economic policy that has given positive results in the search for economic balance in the face of social needs, allowing the Venezuelan to regain hope in the midst of the disastrous scenario that we have had to assume, combating the hopelessness that , boldly, threatens to steal our future.

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