Venezuela's Maduro Set to Announce Actions Against Speculation

President Nicolas Maduro stated that the welfare of society and the future of the nation rests in the hands of its people.

Venezuelan President Nicolas Maduro said Sunday that in the coming days actions will be announced to combat speculation in the country, in order to "respect the maximum price of products."

The president spoke with reporter Jose Vicente Rangel Sunday during a broadcast of "Jose Vicente Hoy" on Televen, explaining that he is working with a special committee within the National Constituent Assembly to address the inflation rate affected by the fluctuating exchange rate between the U.S. dollar and Venezuela’s bolivar.

"When I take actions of this type I do not tremble because I do not depend on anyone, only the people. We have to beat the criminal dollar and I ask for the support of all of Venezuela," he said adding that the ANC plans to announce a maximum price for products.

Maduro stressed that the actions are sure to shake society. The president went on to explain that for a nation, understanding inflation is not only the most important but also the most difficult.

“It does not depend on factors of the real economy, but is an induced criminal inflation that has shot through an illegal dollar, whose fixing depends on a political decision of groups conspiring from Miami and adopted by unscrupulous traders," he said.

According to the president, the destabilization of Venezuela’s economy during his tenure has been a three-part process: the breakdown of the oil rentier model, the international financial war and finally the internal economic war.

Despite the limitations, Maduro stressed that Venezuela has continued with social investment plans and honored all its external commitments.

The president stated that he still maintains a firm belief that the country will turn itself around and gain financial stability once more.

“I ask all sectors to help (defend) the law and to review product by product,” he said adding that in order for the new legislation to be successful, it will need the support of the people to ensure that it is observed.

Maduro concluded that it was Venezuelans — working in community, driven by love and loyalty to their homeland — which would turn the country around.

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