Published at: 08/05/2024 09:00 PM

• With a budget of Bs. 2,822,600,000, or, additional revenues of Bs. 521,000,000, oo from oil revenues, and since Venezuela was the third oil-exporting country in the world (3.5 million barrels per day), President Romulo Betancourt enacted hunger measures for the working, working and peasant classes that brought him to power. A budding traitor.
• The austerity measures enacted included the mass dismissal of public employees, the reduction of 10% of salaries and the reduction of the payroll of State workers.
• With this, it was intended to close the gap in the fiscal deficit of Bs. 533 million and to transfer the unemployed labor and employees to the private sector. The latter never happened. In 1961, Venezuela had 8,453,106 inhabitants and maintained a sustained production of 3,500,000 barrels of crude oil per day at an average price of $15 per barrel.
• Not counting the revenues derived from concessions given to foreign companies for the exploitation of steel (iron) and to the Reynolds bauxite processing plant, as well as other traditional exports from our formal economy.
• Betancourt's misleading rhetoric about the supposed economic crisis, the fiscal deficit and the problems of the public administration payroll were some of the many pretexts that served as the basis for Leo's first large debt of 1,000,000,000, or U$D, that favored the Chase Manhattan Bank, owned by his great friend “Don Roque” (Nelson Rockefeller).
• On October 1 of that same year, in keeping with his false rhetoric, loyal to his political hatred and faithful to his usual misleading speech, Betancourt fired 500 workers from the Ministry of Health in retaliation for having carried out a 24-hour strike to protest violations of the employment contract.

Mazo News Team