Economic growth back after years of blockade: Maduro
After four years of hyperinflation in Venezuela, mainly caused by the US blockade, President Nicolas Maduro asserts that the expected annual growth for 2021 is "more than 4%."
Venezuelan President Nicolas Maduro stressed during his annual address to the National Assembly, yesterday, Saturday, that his country has returned to the path of economic growth after years of blockade and boycott, noting that Venezuela has reached the limit of producing one million barrels of oil per day.
“After five years of the economic war of boycotts and blockades, Venezuela is back on track for economic growth,” Maduro said during his annual address before the National Assembly.
Maduro welcomed the end of a four-year period during which the country witnessed hyperinflation and expected the growth rate to reach 4% for the year 2021.
He also forecasted economic growth in the third quarter of last year at 7.6%, without explaining further.
The Venezuelan President pointed out that "our goal this year is to reach two million barrels per day so that we can continue to help and develop our economy."
In 2021, Venezuela recorded cumulative inflation of 686.4% according to the Central Bank, which means that the country exited a stage of hyperinflation that began in 2017.
According to the International Monetary Fund, the GDP per capita in Venezuela, after seven years of stagnation, has fallen to a level below that of Haiti.
The President added that "2022 will be the year of resurrection, we will witness an expansion of investment" despite the "economic war" waged by the United States.
Maduro: The decision to kidnap Alex Saab is cowardly
Maduro commented on the US administration's detention of the Venezuelan Special Envoy, Alex Saab, saying that "dialogue with the opposition in Mexico will remain suspended until its launch."
He asked, "Who decided to kidnap Alex Saab and transfer him to the United States, US President Joe Biden or Secretary of State Antony Blinken? Who made this decision in the United States? It is a cowardly decision that was a stab in the back of talks with the opposition."
"I hope that corrective measures will be taken so that sooner rather than later we can resume dialogues in Mexico," he added.