> the country was losing around US$12.50 million a year through the subsidy
Try $1.7 billion as of 2013 [1].
[1] https://translate.google.com/translate?sl=auto&tl=en&js=y&pr...
Try $1.7 billion as of 2013 [1].
[1] https://translate.google.com/translate?sl=auto&tl=en&js=y&pr...
The reason we are angry is not because we now have to pay a very low price for gas. The reason is that this country had a huge bonanza and it was all stolen and now the govt says its because of the "economic war" the US and allies are waging against Venezuela. Apparently, the fact that the US is extracting shale oil is all just a plan to topple Putin and Maduro. And now that OPEC wants to break the shale oil companies is another evil plan.
It's everyone elses fault that after 18 years of the highest income we've ever had, we now have no money for the rainy days.
[1]http://www.forbes.com/sites/timworstall/2015/01/26/that-vene...
Even I from the outside knew things would not end well when chavez, and then maduro, got elected.
It certainly has been a terrible price for the bolivian revolution experiment.
Chavez even said once that our economy was bulletproof, that even if the oil prices plummet to zero, we were going to be OK.
I now fear that the only way out is through massive riots for food and medicines. The same people that held Chavismo in power these past years have to be the ones that remove them from power. And it's not going to be pretty.
It seems like from the outside, with the violence, inflation, and general instability, that Maduro has failed to keep the Bolivar Revolution viable.
Do you think Maduro, or one of his chronies will eventually be voted out by the populace? I'm genuinely interested in your side of the story as I can't get non-biased news in the US about Venezuela.
IMO, the thing to understand here is that it's not Maduro holding on to power, it's the military. They are involved in most of the corruption, drug trafficking, human rights violations,etc in the country. They are getting rich beyond their wildest dreams. That's not something that people give up on easily.
Chavez remained popular while oil prices where high, that way his wacky economic model worked, even when they stole most of the money that was coming in (confessed by Giordani, former Minister of the Economy, one of the architects in this disaster). If Chavez was still alive, the situation would be the same, with the difference that he had a charisma and incredible hold on the population.
Maduro now has to face the legacy of his disaster and he doesn't have the personality, charisma to deal with it. You could almost feel sorry for the guy. He's being pressured from the military side, and now he has to face the pressure from the population that is getting restless.
I don't know what the outcome is going to be like. I think some sort of violent looting escenario is inevitable, by the poorest parts of the population when they really start feeling the hunger. That brings repression by the govt forces and death. Maybe then will we see something similar to Egypt, Ukraine,etc where the military has a limit on how many people the are willing to kill on the streets and they flee.
It's a sad, sad situation.