President of Venezuela announces economic measures

On Monday, Venezuelan President Nicolás Maduro presented his annual message to the National Constituent Assembly. During the ceremony he announced the new economic measures for the period 2019-2025.

As the main measure of its management beginning in 2019, Maduro announced the increase of the value of the petro to 36,000 “bolívares soberanos”, which quadruples the monthly minimum wage of the workers, which goes from 4,500 to 18,000 “bolívares soberanos”.

He indicated that this increase has an impact on all the public administration salary index and made it clear that the Government will assume the payment of the salary difference of the private sector.

During his message, Maduro said that “the complex and imperfect process will continue” of the pricing with the business sector and producers of the main products of the basket of commodities.

Another important announcement the president ordered the state companies to sell 15% of their production in the national cryptocurrency to international markets. The measure seeks to “strengthen the currency ecosystem”.

Maduro also announced the creation of the “Misión Venezuela Bella”, which aims to recover the spaces of the 50 most populated cities in the country. Likewise, the approval of 1,037 million euros to guarantee the planting of 3,235,000 hectares and the setting of the goal of the “Chamba Juvenil Plan” in 2,000,000 young people.

Nicolás Maduro said in his annual message that “as of this Tuesday, the legal reserve of 60% will go into effect for national banks, approved last week by the Central Bank of Venezuela (BCV).”

On the Constitutional Law of Taxes on Large Patrimonies (proposed in 2017), the Venezuelan president asked the National Constituent Assembly (ANC) to accelerate the approval of the corresponding decree in order to achieve a fairer tax system.

M.Pino

Source: RT

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