Acting President Dr. Delcy Rodríguez announced that the resources derived from oil rent will be reserved in a priority manner for the social protection system and the optimization of public services. This measure aims to armor the rights of the Venezuelan people against fluctuations in the international market and to advance into the economic diversification.
Rodríguez explained that, as envisioned by the Executive Branch, the Venezuelan economy must develop through its diverse productive motors, leaving behind the historical dependence on hydrocarbons. This new financial model is based on the creation of two sovereign funds: one dedicated to the protection of the People’s Power and the other focused on the integral improvement of national infrastructure.
“We must break with the rentier economic model,” commented the Acting President, emphasizing that the country’s stability now depends on a strong national production and an efficient distribution of the exceeding oil revenues to the most urgent needs of the population, thus ensuring peace and social integration.
