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Economic policy

The set of difficulties that the Venezuelan economy has overcome in recent decades is unprecedented in the country's contemporary history. Most analyzes tend to “explain” the problems of the current situation by arguing that they are due to poor implementation of policies by the Government. Another extreme is that they are effects of the adversities that the economy has overcome.

Both approaches suffer from flaws and do not help to understand current scenarios. No economic policy is error-free. Designing and implementing an economic program in a context of adversity requires a bold vision, since what could be applied under “normal” conditions does not guarantee satisfactory results in the face of adversity.

Let's land the approach. Under “normal” conditions, stabilizing the exchange rate requires a stock of foreign exchange (international reserves) that is optimal enough so that the policy maker, through monetary instruments, can apply certain measures that contribute to the stated objective.

Now, how can you guarantee international reserves in an economy disconnected from the international financial system with the aggravating factor that its main economic activity - exploration, drilling, production, refining, storage, transportation, distribution and marketing of oil - is limited by the measures unilateral coercive? In addition to the devastating effects on the economy and society.

A criminal act that is committed in the name of a series of premises - freedom, democracy, human rights - emptied of their content, reduced to semantics to justify before an international community, inert, complicit in such arbitrariness, outside international laws .

The worst has been overcome. Not everything is perfect, there is still a lot of work ahead, especially when we aim to efficiently address inequalities and the deterioration of productive infrastructure aggravated by the economic war. It is natural to have criticism, differences and even proposals to improve the economy, but not the pettiness of ignoring the stability achieved that today allows us to breathe air of peace.

The country is going through structural changes that under “normal” conditions would have taken centuries. The private sector is 100% committed to producing efficiently and competitively for export and thus obtaining resources that allow it to leverage productive activity. The planning of society's expenses is distributed based on the contribution made by each productive sector, actions that pave the way to leave behind dependence on oil income.

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