17 November 2015
Under the PSUV socialist party government, extreme poverty in Venezuela has been reduced from 21% in 1998 to the resent level of 4.9% . In the region extreme poverty varies with a high of 53 percent.
In April 2015, President Nicolas Maduro (2ndR) gave away the 700,000th home built by the Bolivarian Revolution. Now over 800,000 have been built. | Photo: AVN
In spite of Venezuela’s economic turbulence in 2015, the government has managed to reduce extreme poverty to 4.9 percent thanks to social investment and initiatives, the vice president for social development, Gladys Requena, announced Monday.
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When former President Hugo Chavez was elected in 1998, 21 percent of Venezuelans lived in extreme poverty. Since then, under Chavez’s same PSUV socialist party government, a variety of government “missions,” or initiatives, have bolstered living conditions for millions.
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The housing mission, for example, between 2011 and 2015 has provided 800,000 low-income families with new homes, while it was reported that the 12-year-old health mission has completed over 700 million free appointments to date.
The spending on social projects has continued in spite of international opponents to the wealth redistribution project of the PSUV’s “Bolivarian Revolution” waging an economic war on Venezuela, which has driven up inflation and smuggling.
The vice president of planning, Ricardo Menendez, highlights that the Bolivarian Revolution has achieved a reduction in extreme poverty (orange bars) in spite of the inflation (blue bars) caused by the economic war. | Photo: AVN
Speaking at a Community of Latin American and Caribbean States (CELAC) ministers meeting, Venezuela’s vice president, Jorge Arreaza, said that his government’s goal is to eradicate extreme poverty within the coming years.
The continuation of this trend under the PSUV will depend, in part, on Venezuelan parliamentary elections Dec. 6.
World Bank statistics from 2012 show that the regional average for those living under US$1.90 per day stood at 5.6 percent. However, individual country statistics varied greatly from over 53 percent in Haiti to almost 19 percent in Honduras to 0.3 percent in Uruguay. At that time the World Bank and the Venezuelan national statistics agency put Venezuelans living in extreme poverty at 9.2 percent.