Venezuela signs first liquefied natural gas export contract to boost its economy

Directing returns towards developmen

Regarding the management of anticipated revenues from gas exports, Rodríguez affirmed that the government has adopted a fundamental shift in its fiscal policies, based on several key pillars. A major one of these is the decision not to use hydrocarbon revenues in foreign currency for fuel imports. This is now feasible as domestic production is self-sufficient.

She also emphasized that these new resources will be directed towards supporting social and economic development programs. Furthermore, plans were announced to establish sovereign wealth funds aimed at strengthening financial stability. They also seek to ensure the long-term sustainability of the national economy.

The Venezuelan government confirmed that its current economic program focuses on “strategic import substitution.” It also prioritizes real productive sectors, steering clear of speculation and the volatility of financial markets.

This approach includes supporting the agriculture, fishing, and food processing sectors. Moreover, it encompasses revitalizing the tourism sector. All of this falls within a comprehensive vision aimed at rebuilding the economy and enhancing its capacity for sustainable growth.