Venezuela to Create Investment Plan for Social Protection

Caracas, Jun 15 (Prensa Latina) Venezuela will create a domestic investment plan in the social protection system in strategic sectors like health care, education and housing to counter the financial siege affecting this South American country.

Tareck El Aissami, who was appointed vice-president for the Economic Area on Thursday, proposed at the meeting to establish the Presidential Economic Advisory Commission, held in this capital, the implementation of investments within the social missions during the 2019-2015 period.

The economic vice-president pointed out that the proposals and concerns from the productive sectors, regarding the setting of prices, exchange policy and distribution mechanisms, among others, will be studied to build a post-rent model that will contribute to the country’s social stability.

In light of the economic situation, he called to hold sincere and open debate without dogmas to find economic solutions immediately in the fields of exchange rates and prices.

The key to face the socio-political situation in Venezuela since 2013 is to maintain the social missions with 70 percent of the national budget, noted El Aissami, who added that the Bolivarian Revolution neither grumbles nor remains ‘with its arms crossed’ in the light of the financial blockade imposed by the government of the United States, the European Union and their accomplices in the American continent.

El Aissami, who is also the minister for the Industry and Production, explained that the government is creating social policies to protect the people, like the allocation of bonds through the Homeland’s Card; the Local Committees for Supply and Production (CLAP), to provide food at fair prices.

He stressed that another achievement by the government is the creation of the first Venezuelan crypto-currency, the petro, which is backed up by oil assets.

El Aissami noted that the Venezuelan government is implementing new mechanisms and routes abroad to get around the economic blockade, which has been intensified since President Nicolas Maduro’s reelection on May 20.

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