During the presentation of the management report of the National Executive corresponding to 2021, before the plenary of deputies and deputies of the Parliament, executive vice president Delcy Rodríguez affirmed that thanks to the actions applied by President Nicolás Maduro at the head of the National Government, Venezuela has beaten hyperinflation.
She pointed out that in the process of confronting and defeating hyperinflation, were applied policies that up to date have made possible “to record a 2% inflation, with two consecutive months with a single-digit inflation, consolidating the monetary re-expression program and the launch of the Bolívar Digital, as factors that allow us to show significant rates of recovery of our monetary sovereignty”.
“Those who wanted the economy to be dollarized have come face to face with this reality”, she emphasized.
During this institutional act, which she attended accompanied by the ministers who are members of the Executive Cabinet, Vice President Rodríguez assured that the unofficial dollar multiplied 7 times between 2020 and 2021, while between July 2021 and February 2022 it rose up by only 15%.
In this sense, she affirmed that the policies applied by the National Government have achieved the official price to govern the parallel dollar: «the recovery of the bolivar has been so significant that 91 people out of 100 have a bank account to consolidate the digital bolivar».
Investment Promotion:
She expressed that in this framework a new legal framework has been implemented to promote investments, the Anti-Blockade Law was applied and is already bearing fruit, dialogue was reactivated and the recovery of productive sectors was achieved:
“Oil production was recovered, which will produce 2 million barrels of oil this year. In addition, the currency reconversion program was launched”, she explained.
She reiterated that the economic policies applied by President Nicolás Maduro have been correct, from tariffs to the expansion of credit to the country’s productive sectors and export policies.
«In 2017 the food supply was 20% and in 2021 it was 89%, which has guaranteed food security (…) Non-traditional exports increased by 76% in 2021 and hotel occupancy increased by 94%» she highlighted, among other data.
Beating hyperinflation:
She also pointed out that in the process of facing and overcoming hyperinflation, policies were applied that to date have allowed registering 2% inflation, with two consecutive months with single-digit inflation.
She additionally referred that there was an increase in tax collection of 120%:
“60% of private companies increased their sales and the industrial recovery was between 17 to 29 points”, she concluded.