During his weekly television program on Monday, September 22, Venezuelan President Nicolás Maduro urged the economic sectors, particularly the business sector, to avoid superfluous and unnecessary imports and focus on achieving full self-sufficiency for the country.

Maduro stated: “One key objective is for the country to achieve self-sufficiency in everything and to limit imports to the maximum extent possible. I say to all economic sectors, and especially to the business sector: limit unnecessary and superfluous imports and focus on production.”

He referred to the need to avoid importing products that are not necessary or essential for “the functioning of society, the economy, and people’s lives,” since this represents an unnecessary expenditure of dollars.

Maduro continued by pointing out that “the system is generating foreign currency reserves, and that wealth should and must be invested in the industrial, autonomous, and technological development of Venezuela.”

The president emphasized that the South American nation is moving towards a model based on national production, self-sufficiency, and monetary sovereignty, and insisted: “The foreign currency that the country manages today is national; it belongs to all the Venezuelan people. We have established a new economy and are achieving important milestones: domestic production, national supply, a functioning commercial system, and technological advancement.”

In his program, Maduro also mentioned the creation of a stable payment and exchange system, in relation to the increase in transactions in bolivars in stores due to the lack of dollars.

M.Pino

Source: elaragueno

(Reference image source: PortCalls Asia on Unsplash)

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Venezuelan President Nicolás Maduro recently assured in an interview that he intends to create a stable exchange system.

In a conversation with the Spanish journalist and writer, Ignacio Ramonet, the president spoke about the economic situation in Venezuela, highlighting the task that he wants to assign to all economic sectors of the country to “defend the value of the national currency“.

“All the economic sectors of the country and the government, we are going to build a stable exchange system, to defend the currency and that the economy works with virtuous circuits from now on,” said the president.

Maduro assured that the exchange system must work directly with the production process and a “virtuous circle that allows having a sufficient assortment of foreign currency.”

In December, the president of Venezuela called on both Venezuelans and all economic agents to “fight” the parallelism in the price of the dollar. This call motivated the Superintendency of Banks (SUDEBAN) to first undertake an inspection and audit in financial entities, in order to avoid distortions in the price of the dollar in the national economy.

K.Tovar

Source: Cointelegraph

(Reference image source: sputnik, via web)

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La entrada Maduro wants a stable exchange system apareció primero en Bitfinance.