Bolivarian Government to Reduce Inflation

[T&T Venezuela Bolivarian Solidarity]

President Hugo Chávez stated that Venezuela will reduce inflation to one digit. This announcement was made during the act of credit granting for home, on the occasion of the programs Casa Media and Alianza Casa Media, held in Caracas.

The Planning and Development Minister, Jorge Giordani, mentioned that “The inflation rate of price in the Metropolitan zone of Caracas during July was 0.5%, while last year it reached 2.4%.

He explained that the inflation per year dropped from 19.4% to 17.2%. The poll only covers the Metropolitan zone, and some other polls have been carried out in order to obtain the national rates, he added. Concerning the accumulated inflation in 2007, Mr. Giordani, indicated that it reaches 8.3%.

President Chávez congratulated the Economic Cabinet and the country, and ratified his commitment to continue facing the inflationary threatens, especially speculation.

He also expressed his certainty that the VAT reduction, the creation of a law to protect consumers, the action of the Institute for the Defense and Education of Consumers and Users (INDECU) and the exchange control represent measures that have worked. “Let’s keep exploiting success,” he said.

Regarding the possible lack of meat in Venezuela, President Chávez mentioned the support that the Bolivarian Republic has offered through the implementation of programs for genetic improvement based on the agreements signed with countries such as Argentina.

The economic plan of the Bolivarian Government “is serious, firm and audacious” and it is aimed at satisfying the social needs, he said.

When he referred to the study carried out by the Center for Economic and Policy Research (Washington), he mentioned the aspects of the report, including health and the help of the Bolivarian government concerning the supply of subsidized food.

Campaigns and Plots

The Head of State regretted that some congressmen of other countries oppose the entry of Venezuela in Mercosur and expressed his self-reliance because the nations that integrate this economic block are aware of the campaign than some groups carry out against Venezuela.

“I am sure that this difficult situation is the result of the empire actions,” President Chávez said.

Likewise, he mentioned the projects that have been blocked due to the imperialist pressures, for instance, the great Gas Pipeline which they have hardly criticized and tried to stop its building.

PETROSUR, the Bank of the South and the social missions, aimed at eradicating illiteracy and poverty in Latin America, have also been attacked.