Economic Cabinet evaluated the progress of actions to replace imports

Published at: 09/05/2025 08:53 PM

The Executive Vice President of the Republic, Delcy Rodríguez, this Friday, May 09, held a meeting with the Economic Area Cabinet to evaluate progress in the 13 Productive Engines, which have supported continuous growth in Venezuela over the past 16 quarters, despite adversities imposed by international blockades and sanctions.

During the meeting, the authorities emphasized the importance of these engines in the generation of foreign exchange and in strengthening the national economy.

Currently, Venezuela produces almost 100% of the food that its inhabitants consume, which highlights the success of these strategies.

In addition, the strategic import substitution plans implemented by the President of the Republic, Nicolás Maduro since January 10, 2025, were addressed.

These policies are designed to promote economic self-sufficiency and maximize the use of the potential of the industrial park, both public and private, in the country.

The impact of the global trade war and the tariff measures imposed by the United States were also analyzed.

Despite these challenges, the authorities stressed that the country is ready to face any global scenario, with its new diversified and resilient economic model.

According to the Economic Commission for Latin America and the Caribbean (ECLAC), Venezuela is positioned as one of the countries with the greatest economic expansion in the region.

Gross Domestic Product (GDP) grew by 9.3% in the first quarter of 2025, evidencing a sustained recovery and a firm commitment to national development.

Mazo News Team