RE: ADSactly World - Venezuela's State Of Affaris
This is my contribution@adsactly Venezuela's oil incomes represent around 95% of its fare profit. This implies when oil costs were high, a considerable measure of cash was streaming into the coffers of the Venezuelan government.
At the point when communist President Hugo Chávez was in influence, from February 1999 until his demise in March 2013, he utilized a portion of that cash to back liberal social projects to lessen imbalance and destitution.
Two million homes have been made through a communist government program called Misión Vivienda (Housing Mission), as indicated by official figures.
In any case, when oil costs dropped pointedly in 2014, the legislature was all of a sudden looked with a vast gap in its funds and needed to decrease a portion of its most well known projects.
Is its overreliance on oil Venezuela's solitary issue?
No, a large number of the approaches presented by Hugo Chávez additionally reverse discharges. To make essential products more reasonable to poor people, his organization presented value controls - topping the cash individuals pay for such staples as flour, cooking oil and toiletries.
That's it..
No, even with the "low" prices that started in September of 2014 if I remember correctly, there should still be enough money in savings to cover for times with these "low" prices. There were a lot of years with oil at 100$ and even higher. And the national budget was also based on the theoretical price of 60$, leaving an extra 40$ from those years with +100$ as the price.