To fight the U.S.-led sanctions, the Socialist Party has identified new ‘engines for growth.’
While the mainstream international media concentrate on ignoring or misrepresenting the true economic and social effects of political sanctions by nations stealing its wealth while promoting regime change, the Bolivarian Republic of Venezuela has been – over time — quietly achieving a veritable economic miracle.
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Since 2018, the Nicolas Maduro administration decided that, already being home to 94 percent of South America’s energy reserves and also rich in minerals like diamonds and iron, it was strategically necessary to wean the economy off its near-total dependence on beleaguered energy exports.
To fight the deadly effects of US-led sanctions, the ruling Venezuelan United Socialist Party (PSUV) identified new ‘engines for growth’ that have, over the past three years especially, progressively shown positive returns for each of the past 12 Quarters.
On June 22, Vice President Delcy Rodriguez reported that Venezuela’s Gross Domestic Product (GDP) had increased by 7 percent during the first quarter of 2024. In a teleSUR podcast shared with the news agency’s President Patricia Villegas, VP Rodriguez explained the decision to find innovative ways to fight “the criminal blockade” led to the decision that “the path forward is…