Deputy Ramón Lobo: Venezuelan economy will have the highest growth in the region in 2025

Published at: 12/12/2024 08:34 PM

The deputy of the National Assembly (AN), Ramón Lobo, stressed that, as indicated by the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Monetary Fund (IMF), the South American economy that will experience the highest growth during 2025 will be that of Venezuela.

In the Al Aire program, broadcast by Venezolana de Televisión, he pointed out that these are positive perspectives on the behavior of the economy that “are preceded by all this series of favorable results that we have been able to see in the last four months.”

He pointed out that it represents “a positive instrument for us to continue moving forward, to create the conditions to strengthen economic development”, which will entail the improvement of public services.

Lobo said that the country will continue to implement economic policies in fiscal and monetary matters, as well as of a sectoral nature in areas such as agriculture and tourism. “It's a positive balance when compared to the behavior of different variables during 2023, and even 2022,” he said, recalling that the scheme of unilateral coercive measures remains in force.

“When we began to assess price level behavior during 2024, and the data we have at the close of October of this year, we see how inflationary levels have been slowing down significantly,” he said.

He explained that despite the circumstance that occurred during the past month of October, which closed at 4%, while the cumulative amount from January to October was 16.6%. Regarding the annual one, it estimated that it will close at 25.3% compared to 189% last year.

On the other hand, the deputy considered that this is “a significant decline, the previous one had very high figures, even we had double-digit monthly inflations”.

However, he emphasized the role of the exchange rate in the functioning of the economy, describing it as transversal, and highlighting the importance of social expectations for this economic indicator.

For that reason, he commented that citizens begin to acquire foreign exchange to protect their purchasing power against future changes in the exchange rate, “that works in this economy and in any other and more in ours that is sanctioned.”

In this regard, he stressed that the parallel dollar is an instrument of the Venezuelan extreme right, and recalled that prior to the elections of July 28, between April and May, there was a variation in the parallel or “guarimbera” exchange rate, as identified by Lobo, which generated a drag on the official exchange rate published by the Central Bank of Venezuela (BCV); caused by the free confluence of bidders and claimants to establish a currency exchange ratio in relation to the bolivar. “According to what is agreed at each exchange office, the Central Bank averages,” he explained.

Lobo said that for an electoral purpose, an exchange rate gap began in relation to the guarimbera rate, “but we see how this situation after July 28 is accentuated, and for what purpose? With a once again misleading scenario that followers of the Venezuelan extreme right are posing to you, that this is going to change on January 10 (2025).”

In this scenario, he emphasized that the President of the Republic, Nicolás Maduro, will be sworn in on January 10, for a new term of office.

He argued that if the economic sector perceives uncertainty and anguish, it slows down, which responds to the real economic objective of the extremist opposition in Venezuela, “whoever was thinking of investing says I'm going to stop for a moment to see what's going to happen.”

He added that the final objective of the action is to “permeate the resources of Venezuelan women and Venezuelans”, during a period of the year characterized by an increase in commercial consumption. “Prices are going to change, so it's generating annoyance and anger in the Venezuelan people,” he said.

He also welcomed the fact that the Venezuelan people are more aware of the official exchange rate. “You have seen the economic sector pointing out that the exchange rate to consider must be the official one, because that affects everyone, and that is what generated a whole high inflation wave for us,” he stressed.

However, he pointed out that the use of the parallel rate is still predominant in the informal economy, where the role of citizens is to demand the use of the BCV rate, which must be accompanied by the State to impose established regulations. “The Central Bank of Venezuela has injected a significant amount of foreign currency that exceeds five billion currencies,” he said.

He assured that the bolivar regained important space in the national economy, and that the position that exists in banking in relation to bolivars, the national currency and foreign exchange is of greater importance.

The parliamentarian denounced social media management schemes, which cannot be controlled by their location outside of Venezuela, and which can manage up to eight exchange markers that generate a high average.

It also confirmed that 67.7% of the resources of the National Budget set for 2025 will be allocated to social areas, particularly health, education, culture and sports; all aimed at strengthening Popular Power, which reflects an increase of 50% compared to what was set for this year.

Mazo News Team