The President of the Bolivarian Republic of Venezuela, Nicolás Maduro, informed on Tuesday that on October 1 a new phase of the Venezuelan crypto currency will begin:

“On October 1 we will launch the new stage of Petro, so that all Venezuela can have access to Petro, in savings, investment, spending. The new stage starts to turn Petro into a power on an international scale”, he said during a meeting with the Youth of the United Socialist Party of Venezuela (Jpsuv).

From the Bicentenario square in Caracas, Maduro said that “a good part of the raw material and materials for the start of classes such as school bags and supplies (which will be given to four million children) were purchased with Petros”.

He stressed that the Petro is part of the Plan for Economic Recovery, Growth and Prosperity, and will stabilize the national economy, as it is a “perfect formula of economic growth for equality and justice.”

In the framework of the closing ceremony of the 3rd Jpsuv Congress, Maduro exhorted the youth to be protagonists in the process of economic equilibrium.

He also called on the businessmen and merchants of the country to produce and balance the national economy: “I make a call to the entrepreneurs of the country, they know that they have all my support for loans in bolivars, in petro, in dollars in euros. Let’s go work”, he emphasized.