2015 is a going to be a rough year for Venezuela. Oil prices have gone down recently, according to oil-price.net the actual price is USD 46.39 per barrel. As many of you know petroleum encompasses the income of Venezuela which is going down everyday, adding the constant shortages, insecurity, and the highest inflation the the world. The country has now entered an economic crisis.The economy is officially in recession according to the BBC news, and the country is going through an “economic war” according to Nicolas Maduro who blames the United States for managing the oil prices by flooding the markets with oil as part of an economic war against Russia.
Today, Maduro has slightly stated through Venezolana de Television and according to Noticias24, that the price to fill up the tank for the cars is going up, and the Vice president Jorge Arreaza will meet in the general assembly tomorrow to manage the adjustment of the price. In the same channel, he alleged that Venezuela’s crisis is going to be short, and less than expected, and that the country is going to recover faster than expected.
In the next few weeks, the citizens of Venezuela will be given the plans to boost the economy, when the president applies the necessary decisions. The only announcement we know according to the same newspaper stated before, is that there will be changes in the currency. This means that the Bolivar Fuerte has to be devalued as an economic requirement. On January 21st the,President has talked through, VTV (Venezolana de Televisión) and the rest of the national TV channels, to state what measures are meant to be taken. One of these was the new control exchange for the dollar rates.
Firstly, the official rate which is at 6.30Bsf will be only used to import foods and medicines; then he stated that Sicad 2 which was the 50 Bsf rate will be eliminated, and there will only be one exchange rate for the auction which is the original Sicad 1. Finally there will be a third one, which is going to be arranged in a few weeks for both private and public sectors, and this is meant to be used for secondary needs. The new exchanges rates for the last two were not announced yet. Likewise, he talked about the inflation, and it is going to escalate in the next months due to the shortages of income in the country.
Today, Maduro has slightly stated through Venezolana de Television and according to Noticias24, that the price to fill up the tank for the cars is going up, and the Vice president Jorge Arreaza will meet in the general assembly tomorrow to manage the adjustment of the price. In the same channel, he alleged that Venezuela’s crisis is going to be short, and less than expected, and that the country is going to recover faster than expected.
In the next few weeks, the citizens of Venezuela will be given the plans to boost the economy, when the president applies the necessary decisions. The only announcement we know according to the same newspaper stated before, is that there will be changes in the currency. This means that the Bolivar Fuerte has to be devalued as an economic requirement. On January 21st the,President has talked through, VTV (Venezolana de Televisión) and the rest of the national TV channels, to state what measures are meant to be taken. One of these was the new control exchange for the dollar rates.
Firstly, the official rate which is at 6.30Bsf will be only used to import foods and medicines; then he stated that Sicad 2 which was the 50 Bsf rate will be eliminated, and there will only be one exchange rate for the auction which is the original Sicad 1. Finally there will be a third one, which is going to be arranged in a few weeks for both private and public sectors, and this is meant to be used for secondary needs. The new exchanges rates for the last two were not announced yet. Likewise, he talked about the inflation, and it is going to escalate in the next months due to the shortages of income in the country.