President Maduro: Overheating of consumption is a product of the people's purchasing power

Published at: 09/12/2025 07:10 PM

The President of the Republic, Nicolás Maduro, estimated that the well-known Black Friday (Black Friday) shopping event of November 28, which marks the beginning of the Christmas season, increased by 37.5% this year, “is an overheating of consumption”.

In that sense, he argued that “there would not be such a powerful overheating of domestic trade if there would be no purchasing capacity of the Venezuelan population.”

He pointed out that at least in Venezuela the event was not only on Friday but that it lasted Saturday and Sunday, “overheating occurs for two reasons, the main one is that we have a consumerist society.”

“The second element is purchasing capacity, which has increased, step by step, with all the acupuncture measures we have applied to increase entrepreneurship, family and personal income (...) Venezuelans have increased their purchasing power,” he said.

The statement was made during the meeting with the National Council for Productive Economy, in which the business sector, public and private banking, the Executive Office, sector vice-presidents and vice-presidents, presidents of chambers and business associations participated.

In addition, the head of state specified that this internal market, which has been strengthened, must be offered domestic products, “as has been done with the food supply”.

“We imported 80% of the food, now we produce more than 90% of the foods that are in supermarkets, they are domestic products, of high organic quality, in addition, because we take care of the quality of the food that is produced,” he stressed.

In that regard, he emphasized that “I refuse to continue on the path of dependence on oil revenues. We must accelerate the transition to an autonomous model that generates its own products and has the necessary currencies for perfect stability of the exchange system that we have created and that works.”