Maduro admits Venezuela economy in crisis

Maduro blamed political foes for Venezuela's economic crisis
Maduro blamed political foes for Venezuela’s economic crisis

Venezuela’s recession-hit economy has shrunk 2.8 percent in 2014 while inflation topped 64 percent, the country’s President Nicolas Maduro has said.

In his annual address to parliament on Wednesday, the successor to Hugo Chavez blamed political foes and an “economic war” for Venezuela’s financial crisis.

“In 2014, we again faced the script of destabilisation and violence,” Maduro said, referring to four months of protests that caused major disruption and killed 43 people, including demonstrators, government supporters and security officials.

Opponents say 15 years of misguided socialist policies and corruption since Chavez took power have wrecked Venezuela’s economy and heaped suffering on its 30 million inhabitants who are facing unprecedented shortages of basic products.

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63 Comments

  1. I am
    January 23, 2015

    unfortunately the labourites who keep on putting these guys there don’t read DNO.

  2. J John-Charles
    January 23, 2015

    Any government that just give its citizens free stuffs for vote cannot stand, you should encourage people to work for their living.You don’t help the poor by just giving them hand-out.

  3. Not a herd follower
    January 22, 2015

    Has the Prime Minister disclosed where he is going to get the money to pay the civil servants the promised 5 % salary increase and has he received it?

    • Titiwi
      January 25, 2015

      Probably increase vat to 17.5% saying that the money has to come from somewhere. Just wait and see.

  4. January 22, 2015

    I find no joy in Venezuela’s problems because the long and short of it ,the people especially the poor ones who are suffering. As for our country , Dominica,we are now entering our 37th year of political independence and yet we are very far of achieving our national goal of economic independence.It is now high time that should stop begging all & sundry for our survival.God has bless this land with more than enough resources for us to make it on our own but instead those who have the political power are mortgaging our future and our children children’s future for their own selfish ends. Political independence without economic independence is nothing more than a mirage

  5. Francisco Telemaque
    January 22, 2015

    Socialism is any of the various economic, and political theories advocating collective, or governmental ownership and administration of the means of production, and distribution of goods, and wealth. Socialism and communism are actually the same thing; therefore, since communism has failed it is quite obvious socialism wherever it is practiced, is most likely to fail.

    I saw the man in the picture on Television today, in the news, he seems to be a man fighting for his political life, the economy of Venezuela and that of Skerrit’s Dominica seems to be on par, so when the economy of Venezuela collapses, that of Dominica will collapse on the same day; in any event I know what the king of Venezuela planed on doing to safe their dead economy. They plan on selling Bird Island, and take what they get for it run oui! Hahahahahahahahahahahahahahah!

  6. Erasmus B. Black
    January 22, 2015

    President Maduro is blaming his country’s problems on political opponents whom he says are “waging economic war against him.” Per the old adage, “show me your friends and i’ll tell you who you are.” During the recent election campaign, Mr. Maduro’s comrade in Roseau and his colleagues also tried to lay our economic issues at the feet of the administration that was in office for 4 and a half years. And that was 14 years ago. Yeah! They said it is because they inherited an empty treasury. That aside, Venezuela is reaping what Comrade Chavez sowed. It may well be that the Bolivarian Revolution is now on life support.

    According to the lyrics of Harry Belafonte’s song, Mathilda take his money, sell his cat and run she run Venezuela. I wonder where Mathilda will run to now?

  7. The voice of god?
    January 22, 2015

    When Skerrit finish with Dominica even poopoo and breast milk will be for sale. Sorry for all you children and grand children. Those of you that stayed there and did nothing to protect Dominica and thought is Lennox Linton and UWP all you were keeping out all you MUST FEEL THE FIRE and will ask the rocks to fall on you, but they won’t. You all mUST FEEL IT!!!

    • Blue
      January 23, 2015

      They feeling it already, but keeping quiet.

  8. The voice of god?
    January 22, 2015

    “Opponents say 15 years of misguided socialist policies and corruption since Chavez took power have wrecked Venezuela’s economy…”

    Ladies and gentlemen, this according to them is as a result of 15 years of socialist policies and corruption. Are we any better in Dominica? In their case of Venezuela, we know Venezuela they are very rich in oil. What are we rich in? 15 years of Chavez Red Clinic destroyed Venezuela economy for good. Cann you all imagine what Dominica will be like after 15 years of Skerrit? Shout 5 more years as loud as you all want but when the fire of the hell to told you all to go to will really start to take its toll, I don’t know what you all will say. Go to hell, Go to hell, Go to hell; it’s not your damn business? We will see whose damn business it is

  9. The Facts
    January 22, 2015

    Governments need cooperation from the public sector. It cannot do it alone.
    The US is in crisis; Canada is in crisis; Europe is in crisis, everywhere is in crisis. These are borrowing from China – no pun intended.
    Less criticisms, demonstrations and uprisings, and more interest in one’s country and its progress for the good of all.
    As I heard on US Catholic Radio, “Be less selfy and more othersly (new words coined).” I love this saying. :lol:
    Nationals of every country have an obligation, first to God, to country, to other nationals and to themselves. Too many either appear not to know it, ignore it or reject it. God will hold them accountable if they do not fulfill their obligation.
    More importantly, those who reject God, “not rendering unto God the things that are of God,” this is what will occur in their land; more dilemmas.
    Wake up people. God is the answer to the crisis and woes of humanity, of the entire world. You are to assist your government, your…

    • not a herd follower
      January 22, 2015

      The US is not in economic crisis as you claim. The economy has strongly recovered with the US driving growth in the world. Do some research on the internet before making erroneous statements.

      • The Facts
        January 23, 2015

        I tried to prove a point. Do you reside in the US or not? The US has a lot of poor people. Some are illiterate and can’t even spell their names and read and write. Some also sleep on the streets. They do not have a permanent home. Yet, the US assists other countries.
        This is the way it is with other countries. All have poverty in their country. They all have contingency funds, as Venezuela, to assist other countries.
        Those who are broadminded and well-versed in such news will comprehend that.

    • Francisco Telemaque
      January 22, 2015

      Do not lie on America and Canada: Anyway maybe you can lie to the people in Dominica and talk carp about America is in crisis, and Canada is in crisis, and they will believe you. Nevertheless, if they saw and listened to Obama’s State of the Union address Tuesday of this week they will realize there is no actual facts to what you are talking about.

      We are not in any crisis here, the economy is booming; more than a million new jobs has become available within the past six years, hundreds of thousand of jobs have been created between 2010 and now. The Real Estate industry is right back to what it was the day the market collapsed in 2008, and I can testify to that. One day in 2008, buildings I had valued more than a million dollars fell to less than half that value, today they value more than a million dollars again. And Canada is not in any crisis either!

      • Francisco Telemaque
        January 22, 2015

        It is strange you are quoting China, but you are not telling you audience that the economy of China is on the decline, Jobs are returning to America from China, many which left in the 80’s, and the borrowing of money you are talking you had better try to learn something about economics, and the balance of Trade.

        America, borrow’s from China to suite a particular purpose, and not because America is brook, the American economy is the strongest in the world right now, research it before you start talking If America was broke and in crisis where would the Federal get the billions of dollars they give away to places such as Israel, Egypt, Pakistan, Afganistan, and other nations of the world? Do you know about that?

    • Ex DA law man
      January 23, 2015

      That is the direct result of a corrupt gov’t.You must lead by example.Monkey see,monkey do.The Gov’t has no vision so obviously, the people will perish.

    • i hear you !
      January 23, 2015

      Nonsense you talking… God help those who help themselves. If you do nonsense with your Country
      God will reward your country with shame and corruption. If you do great things with your country, God will bless your country with goodwill and prosperity. It is all about good judgement.

      Example : Who is going to own the Geothermal after it is done ?
      If it is Dominica, we are on the road of prosperity…
      However, if it is a foreigner or foreign interest, we are doom.
      Our choices are our future..
      ponder on that :!:

    • FORKIT
      January 23, 2015

      are you reading international news, America and other international countries are doing favorable. jobs are on the increase yet you saying Canada in crisis, Europe in crisis. stop spewing your ignorance and lies.

    • Titiwi
      January 24, 2015

      I called you an ignoramus before and now you confirm it beyond doubt. Are countries like the U.K. and the U.S.A. in economic crisis? Pls. don’t talk about things you have no knowledge off, lest you make yourself look and sound foolish.

  10. Shaka zulu
    January 22, 2015

    However, the ….. we just elected into office continue to brey about assistance from Venezuela. Tell me what is worst than having a social program that is financed by a country with millions more than us and they are struggling. Mr. Skeritts’ idea of prudent financial responsibility is milking the cow even if it meg and dying. How can anyone trust a man like that. Socialism is a failure. It is used today so that few can control the masses. China today is pretending to be socialist to do just that. There are very wealthy men and women there that feast on capitalism.
    Recently we have seen the ministers and some party mules come out blaming Dominicans for their laziness and taking advantage of system. All they do is pass blame on others for their nonsensical leadership.
    I want to see if Pm will stand be his president and blame foes (America) for their self inflicted conditions.
    IDIOTS

  11. Ideal
    January 22, 2015

    Well if Venezuela economy is in crisis, where will Dominica go begging. And maybe Venezuela will now call on Dominica to pay back whats owing to them.

  12. The Evangelist
    January 22, 2015

    DNO, since the former Evangelist and pastors no longer preach the bible, please allow me to remind readers of the passage below, as it’s applicable to Dominica and 5 more years:

    All these are the beginning of sorrows – Matthew 24:8-13King James Version (KJV

    If Madura admits Venezuela economy in crisis, what does that say to us in Dominica? All I will say is, Dominica is in very serious, serious, serious danger. During the campaign they told us that God taking too much time to answer our prayers and we should therefore turn to them. But it seems as if they too don’t even have a source to draw from since all their bridges are rapidly crumbling down much sooner than we expected. Evangelist and pastors, you all really need to call a national fast

    • The Facts
      January 22, 2015

      Who said that they no longer preach the Bible? When last you went to Church or if you go are you deaf? So you think you are the only one who knows the Bible? How well do you practice it? :twisted: :mrgreen: :twisted: :mrgreen: :twisted: :mrgreen: :twisted:
      I always ask, what are people as you doing to enhance and build-up your country? God did not create you for nothing. You are not a D/can for nothing. Strive to assist your country and fellow people. Some are doing that; others should pull their strings and help in some manner. If they did D/ca would be more progressive. Less talk/comments and criticisms.

    • uwotm8
      January 22, 2015

      What would that do? Oh I get if we can get everybody to fast we could probably save thousands maybe even millions on food. Genius!! Now all they need to do next is to put those savings into the collection basket

  13. farmer
    January 22, 2015

    You’ve been good to Dominica, we pray things get better. If we can help we all will.

    • The Facts
      January 22, 2015

      Pray for Venezuela and also its nationals. No exception D/ca and the rest of the world.
      We are the world and we are the people of the world. All of us have to do our part wherever we may reside.
      Keep in mind, the Eyes of Jesus are on each one of us, every word we state and every footstep we take. As the words of a religious song, “Christ has no hands, no feet on earth but our own.
      Today one, tomorrow another. Who knows when.
      God bless you for your appreciation and compassion to Venezuela, its government.

    • JoJo
      January 22, 2015

      These are very kind sentiments farmer but what do we have to give to help them? Remember, we are relying on those poor people to help us instead. We can pray but that does not put food on their table or money in their pocket.

    • faceup
      January 23, 2015

      Yea tell Skeritt pay back your damn loan :lol:

    • Lang Mama
      January 24, 2015

      We will send black Sigatoka bananas and regift the coffee plant. We will also ask the New Jersey money launderers to drop of some money to Maduro while using his diplomatic passport.
      We have many multimillionaire diplomats all over the world we will ask them to each donate some bolivars to Maduro

  14. JoJo
    January 22, 2015

    You imagine the same could happen to us if Skerrit introduces the bitcoin we will have a black market for U.S.dollars too and the shelves in the shops almost bare because we don’t have enough U.S.$, Euros or Pounds to pay for our imports. I don’t think you can pay for imports with that bitcoin. At election money flowed like water but now I’m really worried about our little country.

    • The Facts
      January 22, 2015

      Pray for your country and cease your criticisms. Some of you are doing more criticizing than worshiping and praying. How do you expect any good to come from these types of criticisms?
      I do not endorse Bitcoin and hope it does not become a reality in Dominica.
      The thought is crossing my mind (hopefully through inspiration ) :). I view Bitcoin as those non-Catholic people who went to D/ca (including other countries) to preach the Gospel, saying they are proclaiming Our Lord Jesus Christ when He was already proclaimed in those countries and who, by their adverse teaching and preaching influenced Catholics of all to renounce their faith to join them. D/ca is not better for it.
      Dominica already has a currency and dealing with financial institutions which is enough for it. D/ca does not need Bitcoin. Are we all not surviving with those institutions? Some people are out to make money on us. The fools fall for it. In the end they will be crying, wailing and biting their fingers.

      • FORKIT
        January 23, 2015

        the fact is what you say it is. idiot your facts is for you.

    • uwotm8
      January 22, 2015

      That’s nonsense and you know it. Well if you know anything about bitcoin and about Venezuela’s economical problems and you’re not just making assumptions based on your limited knowledge. The black market in the venezuelan economy exists because of the restriction on currency exchange. If anything, introducing bitcoin will add yet another method of currency exchange (which btw is accepted internally – this didn’t originate in Dominica) making it harder for a black market can survive since there would be so many ways of freely accessing foreign currency.

      • Malgraysa
        January 23, 2015

        Go on then clever clogs, the exchange rate for bitcoin went from a high of 332 on christmas eve to a low of 223.50 today! A drop almost 110, or 33% in less than a month. Convince me that this is a good investment! Meanwhile I will stay with my trusted dollar and make sure I don’t have too many in my bank account comes 14 March so nobody can lay their hands on it and swap it for useless bitcoins arbitrarily. Sorry, but I don’t want any of that play-dough!

      • FORKIT
        January 23, 2015

        hmmmmm OK BITCOIN SCIENTIST

  15. January 22, 2015

    Next headline “Skerrit admits Dominica economy in crisis”

  16. January 22, 2015

    The bottom line is that socialism just doesn’t work, doubly so for anti-democratic socialist dictatorships.

    • Erasmus B. Black
      January 22, 2015

      The late Margaret Thatcher, former British Prime Minister was once quoted as saying, ” The problem with socialism is that sooner or later, you run out of money.”

  17. January 22, 2015

    And yet the man wasting the people’s money to prop up corrupt regimes like ours in Dominica. I thought charity began at home.

  18. Titiwi
    January 22, 2015

    Typical, the country with the world’s biggest oil reserves blaming everybody except themselves for their downfall. Papa Chavez mortgaged his people’s future against a commodity you can not eat and now they can’t pay the interest anymore. Well people, as Roosevelt Said, you get the government you deserve…but hey, don’t blame me. I did not vote for him!

    • The Facts
      January 22, 2015

      Prior to making such ignorant remarks, you must also follow world News. What would you say of T & T? There is also Guyana. What do they do with their natural resources? How much are their people helped to get out of poverty?
      Canada’s Province of Alberta is rich for its oil. It is an expensive province to reside in. Canada is trying to build a pipe-line from that area to the US to sell its product to the US which President Obama and some other US politicians vehemently oppose.
      Many countries have natural resources yet, there are still poor people, some of whom depend on the government for a monthly income and as jobs dwindle.
      You must learn from those countries, be broadminded and cease criticizing your government. With no criticism, much of its money comes from overseas and not from D/can taxpayers.
      If some of you would keep fruitfully busy you would not have time to criticize any government; not even your own. Learn from this and act upon it.

      • Peter Potter
        January 23, 2015

        In the land of the blind the one eyed man is king. That applies to you exactly. Put on top of that a bit of religious craziness and bingo here we go… Why don’t you do us all a favour and spare us your wisdom. When I read your comments I feel like reading the weekly issue of the DLP propaganda newsletter, or is it you Skerrit who is writing under the pseudo “The facts”?

      • Abraham
        January 23, 2015

        I was very reluctant to comment but your lack of knowledge about world economic and financial issues forces me to attempt to help educate you some. First in this lesson is this quote “it is better to keep your big mouth shut and appear stupid than to open it and remove all doubts.” Secondly, read my comment slowly. Follow closely all the punctuation marks and have a dictionary close at hand to look up the meaning of any work that you may not understand and try using them in a sentence to help improve your level of comprehension.

        Now, to make my point.

        1. Canada is not trying to build a pipeline to sell oil to the US.
        2. The pipeline construction is to pipe oil sands from Canada through the US and into the gulf where that oil will be shipped to refineries and enter the world market.
        3. The US is not opposing for opposing sake but instead is opposing against the backdrop that the construction of the pipeline will create employment during the construction phase and nothing…

      • Titiwi
        January 24, 2015

        The Americans are damn right to oppose your pipeline. They have enough oil and natural gas of their own now, so keep your pipe in Canada and smoke it.

      • Francisco Telemaque
        January 24, 2015

        You see how you like to distort the truth!

        The pipeline you are referring to run from Canada, through some states of the United States, is not even approved; it will never be approved as long as Obama is president of the United States, and furthermore the dangerous sand oil that will be piped through is not destine to be sold anywhere in America.

        Facts machine many of us Dominicans living in America, knows what is going on, in matters such as this ordinary citizens are briefed, we usually get invitation to attend discussions on matters as these: i. e., if the water and power needs an increase on rates, they cannot increase it until the people who are going to be affected agree to the increase and votes on the issue. I do not know everything about Canada but more than half of the comments on America are all lies! I had that space to write, I would teach you a thing or two about T&T; and Guyana.

      • Francisco Telemaque
        January 24, 2015

        Abraham, if you are a woman, I throw you a million and one kisses; if you are a man, I shake your hand a thousand and one times. I mean everyone would like their comments published on DNO; nevertheless, I don’t think people should simply make up stories simply because they want to be involved. This lady “The Facts,” write lots of blowing in the wind stories without any real source she pulls stories out of thin air!

        For many days she wrote many comments about Linton, which no one in Dominica heard prior to her, spewing her venom, nothing that lady writes can be authenticated; now she start talking about Trinidad & Tobago’s economy, and Guyana, and referred people to World News something about her is wired. You have a talent for writing short scripts and are very precise, I attempted to explain to her about the pipeline; but because I don’t possess brief talant; I could not lay it on her as did. At lease by now she realizes that it is not all uneducated people reading…

  19. anonymous2
    January 22, 2015

    Venezuela’s economy as well as Dominica’s and Cuba’s have been in crisis for a long time. Now what do all 3 have in common?

    • FORKIT
      January 23, 2015

      crime and corruption

    • Lang Mama
      January 24, 2015

      Lies,illusion and money magic disappearance

    • Francisco Telemaque
      January 24, 2015

      The common denominator: is the nations are governed by a dictatorship! In any event Cuba will survive, since the Canadians have long been investing in Cuba; now with the reestablishing of Diplomatic relation with Cuba, many Americans are ready to make that move commencing by investing in travel, and the tourist industry in Cuba.

      Venezuela will survive as a the price of petroleum products increase: Poor Dominica, and the poor little dictator Skerrit, will continue to beg for the crumb which falls off the tables of the Cuban, and Venezuelan dictators. And he will lie on his yellow, and black belly crawling and wiggling like an earth worm, since he long lost his spinal column which prevents him from standing on his two feet and do something progressive for the country.

  20. Peter Potter
    January 22, 2015

    I urge all DLP voters to read the last sentence of this DNO report and think about it very careful. Venezuela is the country with the largest oil reserves on the planet and a foreign exchange income to match that. Nonetheless a certain Mr. Chavez, who Skerrit used to refer to as his father, managed to bring the country on its knees. If the low crude oil price persist for another 12 month that most certainly means bankruptcy for Venezuela and Skerrit’s golden cash cow. What impact is that going to have on Dominica and more to the point the Skerrit regime? My prediction – you all better tighten your belts and expect that 95% of Skerrit’s election promises will remain pie in the sky! You were all warned 7 weeks ago. You made your bed, now sleep well in it.

    • Francisco Telemaque
      January 25, 2015

      Even if the economy of Venezuela remains strong, and Skerrit receives a billion dollars per minute from that country, Dominica will remain the same. Skerrit has no actual ambition to see progress made in Dominica. I understand when Chavez was alive he offered an Oil Refinery. If that is true; Skerrit made no effort to peruse it.

      He borrowed money from the Chines to build a State House, that in my opinion was necessary, nevertheless, all the money went back to China because they brought their workers in form China to perform the construction work, that is all Skerrit accomplished going into his twentieth year in office, in addition to the resurfacing of a few roads, and building back walls, and declaring war on feces! As long as Skerrit remains in power in Dominica, the country will inherent only doom, and gloom!

  21. Titiwi
    January 22, 2015

    Unfortunately we are going the same way but Papa Skerrit and his jolly band remain in denial.

  22. January 22, 2015

    YOU MAY NOT POST MY COMMENT
    DNO IS REALLY A UWP WEBSITE. ALL YOU DO IS POST NEGATIVE ABOUT DOMINICA ALLIES

    • SMH
      January 22, 2015

      well go on DA Vibes DNO dont belong to u

      • January 26, 2015

        Sour Grapes accept defeat and life goes on.

  23. grell
    January 22, 2015

    Skerrit take note,this is what happens when you oppress people for not supporting your regime,Venezuela has the resouces and you see it is worth nothing.Karma Skerrit take note,your ship is sinking.Continue your dirty politics.

  24. peanut brain
    January 22, 2015

    OK so how can the Venezuelans afford to finish the abattoir. That we do not have enough pigs and chickens to slaughter at 2,000 Chickens an hour and 500 pigs a day! Unbelievably stupid! Oh yes, they are building it on the water table to the whole of the Layou valley…………………………………………………………… :mrgreen: :mrgreen: :mrgreen:

    • January 23, 2015

      Don’t forget the coffee processing plant lol

  25. Rockrr
    January 22, 2015

    Is not the same skerite who said he call the president of venezuela r help in the N.E.P. u folish labourites look venezuela in crisis where they getting money????i doeno if fowl brains u labourites have. U daamn idiots

    • January 23, 2015

      Rockrr,I agree with your observations. I have long maintained that we Dominicans are the dumbest voters.
      Even when the mirror is in front of their eyes they refuse to look into it.
      China, our biggest ally is trying to fight corruption, yet we in DA just accept every thing that the cabal do. Look at what happened with the Gon Emmanuel case yesterday. If that is not corruption, I will eat my hat, just look at who is, allegedly in the mix, the PM”s lawyer and others, if he went down the whole crew would collapse like a deck of cards..
      From the start they put a constable in charge of the case, given the gravity of the crime clearly a senior officer should have been heading the case.
      I want some of these rabid DLP supporters to tell me why out of 4 students at the Trini law school the govt only paid the fees for 1 student to graduate, she just so happened to be the daughter of Mathew Walters who was a govt minister at the time. Tell why was this allowed.
      WE IN DOMINICA ARE…

  26. TOFFEE CITY
    January 22, 2015

    Let those Venezuelan who have the same mentality like Dominicans suffer. they depend on a government and do not want to work. Venezuela has an abundance of natural resources like land for farming yet they depend on oil only(95 percent of their economy).
    like dominicans they believe in hand outs and love and … as a leader.

  27. 4u2c
    January 22, 2015

    DA on route heading head on in the same direction!!! We go see…….

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