In a recent meeting with the National Economic Council, Venezuelan President Nicolás Maduro emphasized the importance of stabilizing the country’s economy and combating the mechanisms that affect its development, such as the war dollar:
«Those who love Venezuela should not, under any circumstances, encourage the war dollar or the parallel dollar. Those who love Venezuela should respect the market dollar that we have built over these years of struggle for the new exchange rate system,» instructed the head of state.
The president identified the war dollar as an old enemy and reiterated his commitment to fighting all mechanisms of theft and speculation that threaten economic stability.
«It’s a battle, a tug-of-war: Who can prevail, the war dollar or the construction of a market dollar that benefits economic stability, growth, trade production, and the satisfaction of a country’s needs?» he questioned.
The dollar is set by the Venezuelan market:
He also addressed the confusion surrounding the term «official dollar,» clarifying that «it’s not the official dollar, because we—the government—don’t set it, the market does.»
In this regard, he urged reflection on economic dynamics: «I’m talking about something concrete, technical: demand-supply, supply-demand,» and stressed the need to balance these variables.
The President emphasized that, despite the increase in demand for foreign currency, the established exchange rate system has managed to function:
«Trade overheated, it was a phenomenon, and there was a 40% increase in demand for foreign currency; but the market dollar worked anyway,» he emphasized.
In his speech, he also pledged to continue strengthening workers’ integral income, «because this is a social and economic project of justice, of equality for social peace, for national peace,» he added.
The President called for continued building a solid and stable economic system: «In this struggle between Venezuela’s old historical enemy, the war dollar, and the market dollar, let’s bet on its strong stabilization and nurture economic growth step by step, in every engine,» he directed.
