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The President Nicolás Maduro admitted the failure of the model of production applied by his government to Venezuela, which is facing hyperinflation and four years recession. "The productive models that we have tried until here have failed and the responsibility lies with us, it's mine, it's yours," said Maduro at a congress of the United Socialist Party of Venezuela (PSUV) Monday night.
"Enough of whining (…), we must produce with aggression or without aggression, with blockages and without blockages, to make Venezuela an economic power (…) Zero whine, what I want, it is solutions, "he said.
The Socialist Government nationalized sectors such as cement and steel expropriated hundreds of companies – including supermarket chains – and more recently municipalized militarized markets in a crusade against high prices
. , set prices for several items and monopolize currencies through a change control.
"I calculate about two years to reach a high level of stability and we can see the first signs of a new economic prosperity, without giving up a second protection and social security," Maduro said.
The President also pointed out that
his economic recovery plans include "reaching six million barrels a day
by 2025 or earlier", in the midst of an oil production that s'. collapsed from 3.2 million barrels per day in 2008 to 1.5 million barrels in 2018.
The IMF estimated that this year Venezuela's inflation will be almost a and that the GDP will fall by 18%, after falling 14% last year and 16.5% in 2016.
Maduro, who generally attributes the crisis to an "economic war" promoted by the states United States to overthrow it, he calls the militancy of the PSUV to join the resumption of production, despite the "aggression" of the United States.
Washington has imposed financial penalties against Maduro, several government officials and the oil company is PDVSA, which accounts for 96% of the country's income for crude oil export.
The consequences of controls are reflected, for example, in the agricultural sector which provides barely 25% of national consumption, after having contributed 75%. Percent, in the past, according to estimates of the National Federation of Farmers.
The industry, meanwhile, operates at a capacity of 30 percent, according to private Conindustria.
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