“With our own efforts we are managing to stabilize the country’s economy,” said the president of the Bolivarian Republic of Venezuela, Nicolás Maduro Moros, when offering a balance of the nation’s economic activity in the last months of the year and assured: “At the end of the third quarter of 2023, Venezuela has accumulated nine consecutive quarters of sustained growth.”
During a meeting of the National Council of Economy at Miraflores Palace, in Caracas, the head of state stated that «for the last quarter of the year, the trend remains in crescendo.»
He reported that oil activity in the last quarter grew 12.99 percent, in terms of the extraction of crude oil and gas, and highlighted that there was a significant increase in exports. “Despite the blockade and sanctions, Venezuela has achieved a significant increase in the productive engines of the Bolivarian Economic Agenda,” therefore, he requested “the contribution of all chambers and associations, to make each policy that protects the national producer”.
Regarding Agriculture, President Maduro pointed out it has maintained a solid growth of 5.2 percent in the last quarter and a cumulative growth in the first three quarters of 5.32%.
He highlighted that the export of fish and seafood grew 30%, while private manufacturing accumulated 10 quarters of growth, to register 3.93%, Food and beverages showed a growth of 1.64 percent and general commercial activity has shown signs of recovery “since the second quarter of 2021, when the flexibility began to be lifted due to the COVID-19 pandemic, and we managed to register 3.7 percent in the third quarter of the current year, and the fourth is going to be much better,” said the head of state.
Special support plan:
President Maduro instructed the Executive Vice President Delcy Rodríguez, the sectoral vice president for Economy, José Félix Rivas, and the president of the Central Bank of Venezuela, Calixto Ortega, a special plan for years 2024-25-26, to support with financing and correct policies to strengthen all sectors of the national economy.
Likewise, the head of state reported on the increase in agro-industrial production in January-October 2022-2023, which he detailed as follows:
Oil 26.34%
Flour 63.68%
Pasta 16.64%
Sardines 16.07%
Pork 25.61%
Sugar 38.04%
Chicken 35.49%
Eggs 38.16%
Rice 3.5%
Sausages 35.82%
Precooked corn flour 18.34%
Machinery 29.1%
Wood and paper 14.2%
Chemicals and pharmaceutical 13%
Auto parts 8.7%
In the pharmaceutical sector, President Maduro detailed that the generics market grew 17 percent, the pharmacy sector 8.41 percent and the total market 4.77 percent. As for medications, for heart diseases 14 percent, dermatological 7 percent, nervous system medications 13 percent, diabetes 16 percent, antibiotics 7 percent and respiratory conditions 12 percent.
Finally, the head of state reported on tax collection and highlighted that in 2023, 4,600 million dollars have been collected up to the month of October and it is estimated for November and December, close to 6 billion dollars: “Venezuela must live off its taxes, our country will live off what it produces and its taxes, we have to achieve it, tax justice,” he emphasized.
