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LatinNews Regional Monitor: Andean Group - 30 July 2018
In brief: Venezuela
Venezuela: Venezuela’s President Nicolás Maduro has called for the use of petrol in the country to be “rationalised” in order to help alleviate the deep economic crisis afflicting the country. Speaking at a national congress of the ruling Partido Socialista Unido de Venezuela (PSUV), President Maduro said that his government was preparing the announcement of new economic measures for 20 August aimed at solving the crisis, marked by hyperinflation and the shortage of some basic goods. Venezuela continues to have some of the cheapest petrol in the world thanks to government subsidies despite the crisis. But Maduro said that Venezuela would have to rationalise petrol consumption arguing that a lot of it is actually smuggled out to neighbouring countries by people looking to make a profit. Consequently, Maduro said that his government would have to review the national energy policies including domestic petrol prices. As part of this process Maduro announced that the government will conduct a national census of automobile and motorcycle drivers next week to try to determine the total amount of vehicles in circulation and the total level of fuel demand.
