Economy
The Venezuelan government is calling upon people to revive the industrial activity and is proposing a package that has been called "Reinvigorating Production" to heal the Venezuelan economy, which is depressed and, according to some predictions, may fall into a recession in 2010.

The government announced at a press conference that they intend to generate greater local value added in essential areas in order to produce goods and services and reduce imports of final consumption goods.

However, expectations are low after the announcements, since the government has resorted to strategies and measures that have already been implemented by the administration of President Chávez. These policies have not achieved the long-lasting goal of diversifying national production to reduce dependence on oil.

The government aims at "pushing" the banks to increase the amount of money they lend to the productive sector. However, the banks have reiterated that there is not enough demand for credits.

Since 2001, the Bolivarian government has said that imports should be reduced. Luisa Romero, the former Minister of Production and Trade, announced some years ago that the government would control imports in sectors such as agriculture, apparel, footwear and the automotive sector.

Since then, the government has announced the same policies at least six times.

Translated by Gerardo Cárdenas

Ernesto J. Tovar
EL UNIVERSAL