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situation report

Feb 23, 2013 | 12:30 GMT

Venezuela: Chavez And Cabinet Discuss Economic Policy

Venezuelan President Hugo Chavez met with his Cabinet for five hours Feb. 22 at a military hospital in Caracas, Vice President Nicolas Maduro said Feb. 23, Bloomberg reported, citing Venezuelan state television. Chavez and the Cabinet discussed economic policy and national security, Maduro said. New economic moves to be announced soon include measures to fight inflation and guarantee resources for public funding. The Venezuelan government has been seeing food shortages, and Maduro has already been pushed to devalue the country's currency. With high social spending exhausting fiscal resources, spending cuts may have to follow, potentially including gasoline reductions.

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