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According to the Economist, the Chávez government's economic policies, including strict price controls, have led to Venezuela having the highest inflation in the world at the time. When Chávez left office, the inflation rate was at 29.4%, which was .1% less than when he first took office.
From Wikipedia, the free encyclopedia. From his election in 1998 until his death in March 2013, the administration of the late Venezuelan President Hugo Chávez proposed and enacted populist economic policies as part of his Bolivarian Revolution.
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By the end of Chávez's presidency in the early 2010s, economic actions performed by his government during the preceding decade, such as deficit spending and price controls, proved to be unsustainable, with Venezuela's economy faltering.
- Diosdado Cabello
- Nicolás Maduro
- Diosdado Cabello (acting)
Venezuela - Hugo Chavez, Politics, Economy: By the 1998 elections more than half the Venezuelan populace was below the poverty line, while annual inflation exceeded 30 percent and oil prices were in steep decline. The voters rejected the traditional political parties of Democratic Action and COPEI and elected Chávez as president.
Domestic. Chavismo policies include nationalization, social welfare programs ( Bolivarian missions) and opposition to liberalization reforms (particularly the policies of the IMF and the World Bank ). According to Hugo Chávez, Venezuelan socialism accepts private property, [13] but this socialism seeks to promote social property too. [14] .
- 2 February 1999 – present, (24 years, 8 months and 9 days)
Hugo Chávez refocused Venezuelan foreign policy on Latin American economic and social integration by enacting bilateral trade and reciprocal aid agreements, including through "oil diplomacy". [1] [2] Chávez stated that Venezuela has "a strong oil card to play on the geopolitical stage ...
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