World News

23-02-2026

Venezuela Announces Shift to an Oil-Independent Economy

Acting President of Venezuela Delsi Rodríguez announced the launch of a new economic model aimed at ending the country's historical dependence on oil. According to her, the foundation for this transition includes strengthening national unity, political stability, and active support for local manufacturing, entrepreneurship, and the agro-industrial sector. The key instrument of the reforms will be the "National Production Union" strategy, designed to integrate the public and private sectors to create resilient supply chains — from local shops to major distributors.

The main goal of the new model is to ensure the country's food sovereignty by increasing production of staple products: vegetables, mass-market goods, and seafood. Rodríguez emphasized that the economic reforms are inextricably linked to political stability, which, in her view, is ensured by the "Program for Democratic Coexistence and Peace." This stability, it is claimed, is already attracting the attention of foreign investors. The government's ultimate objective is declared to be a complete abandonment of oil rent and the creation of a diversified, self-sufficient productive economy.

Full version: Presidenta encargada: Paz y estabilidad permiten impulsar nuevo modelo económico en Venezuela