Difference between revisions 61592070 and 62470596 on enwiki

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'''Current Version'''

Venezuela is a major producer of oil products, which remain the keystone of the Venezuelan economy. Chávez has gained a reputation as a price hawk in [[Organization of the Petroleum Exporting Countries|OPEC]], pushing for stringent enforcement of production quotas and higher target oil prices.  At a June 2006 meeting, Venezuela was the only OPEC country calling for lowered production to drive oil prices higher. Industry analysts say Venezuela (contracted; show full)

Critics state that unemployment levels have not dropped enough, considering the massive oil windfall, and that the job creation may not be permanent.  Some social scientists mistrust the government's reported poverty figures, based on contradictory statistics and definitions, and some economists report insufficient economic growth and continued repression of the economy.


'''Proposed Version'''

Economic policy under Chavez is 
constantly evolving and hard to label, ndifficult to categorize.  Neither following the strict socialist path of Cuba nor the strict capitalist path of Mexico or Chile, it seeks to strike a balance. It does however{{fact}} It borrows from other international expierience, Fwith Keynsian fiscal and monetary policy is keynisian in nature..{{fact}} Enterprenuership is heavily promoted but is of a social co-operative variety, borrowing from the VBasque community.{{fact}} Government direct investment follows neither import substitution nor a globalization path, seeking instead to meet internal, regional, and lastly global south demand. The p{{fact}} Private investment is encouraged, but not at the expense of other priorities such as oil control and land redistribution.{{fact}} Most of the initiatives are at the mercy of a high budget costs, forcing the government to expand its two pillars of traditional income: (what are the two pillars?).  Tax collection has been revamped, leading to fewer evasions.better compliance.{{fact}}  Oil policy was rerouted from production centric goals, to profit centric ones.{{fact}}

Venezuela is a major producer of oil products, which remain the keystone of the Venezuelan economy. Chávez has gained a reputation as a price hawk in [[Organization of the Petroleum Exporting Countries|OPEC]], a label still held to this day, pushing for stringent enforcement of production quotas and higher target oil prices.   As a result, Venezuelan production is lower than during the Caldera administration.{{fact}} (As a result?  No, there are other factors.) Chávez has redirected the focus of [[Petróleos de Venezuela S.A.]] (PDVSA), Venezuela's state-owned oil company, by bringing it more closely under the direction of the Energy Ministry. He has also attempted to repatriate more oil funds to Venezuela by raising royalty percentages on joint extraction contracts that are payable to Venezuela, and changing operating contracts to mixed companies with majority stake. Chávez has also explored the liquidation of some or all of the assets belonging to PDVSA's U.S.-based subsidiary, [[Citgo]]. The oil ministry has been successful in restructuring Citgo's profit structure,<ref>Ramirez, Rafael. (Minister of Energy and Petroleum, 25 May 2005). [http://www.venezuelanalysis.com/articles.php?artno=1474 A National, Popular, and Revolutionary Oil Policy for Venezuela]. Retrieved 31 Oct 2005.</ref> resulting in large increases in dividends and income taxes from PDVSA. 

Results reflected Venezuela's internal political conflict. (no, much more as well - they also reflect poor fiscal management, corruption, etc.). From 1999 to 2004 per-capita [[gross domestic product|GDP]] dropped 1&ndash;2 %, coinciding with the deepening political crisis, other indicators such as poverty and unemployment reflected negatively. Afterwards with the help of rising oil prices, the end of the oil strike, political stability (?????), and strong consumption growth, recent economic activity under Chávez has been robust,<ref>''Bloomberg''. (''Bloomberg'', May 16 2006) [http://www.bloomberg.com/apps/news?pid=10000086&sid=aNQUriMkDXEg&refer=latin_america Venezuelan 1st-Qtr GDP Grows 9.4 Percent on Oil Surge (Update1)]. Retrieved 13 Jun 2006 .</ref>  particularly in the non-petroleum sectors. Most of that growth was directed to the poorest stratus of society, with real income growt(contracted; show full)

Critics state that unemployment levels have not dropped enough, considering the massive oil windfall, and that the job creation may not be permanent.  Some social scientists mistrust the government's reported poverty figures, based on contradictory statistics and definitions, and some economists report insufficient economic growth and continued repression of the economy.

==Notes==
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