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Venezuelan President Nicolás Maduro (center), accompanied by the President of the National Assembly Jorge Rodríguez (right) and the Minister for Communes Angel Prado (left), during a working meeting on Wednesday, December 4, 2024. Photo: Presidential Press.
The president of Venezuela, Nicolás Maduro, has announced the creation of the Communal Portfolio Fund of the national budget. This fund will manage the resources for the projects being developed in local communities, through the communal circuits, and voted by the commune inhabitants themselves.
During a working meeting held with the National Electoral Commission for the election of Communal Justices of Peace this Wednesday, December 4, the Venezuelan leader reported that the fund will begin with an initial investment of US$600 million, in its equivalent in bolivars.
In order to reach the goal of $600 million to support the municipal portfolio fund, President Maduro called for the improvement of tax collection, in order to allocate it to the management of People’s Power.
He also said that he is keeping an additional budget of US$200 million through the Federal Government Council, for community projects in water, electricity, roads, education, health, and other such productive projects.
“In the budget, we have included the resources directly, so that they can go through for themselves what I am going to create, a Communal Portfolio Fund,” said the head of state. This fund was part of the Draft Budget Law for the Financial Economic Year 2025, presented this Tuesday by Executive Vice President Delcy Rodríguez before the National Assembly and approved this Thursday, December 5, in its second discussion.
The president pointed out that this is the first budget designed and worked on to invest the country’s resources in community works for residents, within the framework of the Communal Power.
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The Venezuelan president reported that during 2025, a series of four popular consultations will be held for the selection and financing of projects in each of the communal circuits all over Venezuela.
“The year 2025 will be a year of progress, blessings, peace, prosperity, and progress for Venezuela,” he stated. “Thus, I decree that the year 2025 will be a unique and historic year due to the level of drive and impetus that we will ensure goes to the rights of the people.”
In his speech, President Maduro praised the Venezuelan people, because “they know where they stand, the power they have in their hands, and they know that exercising that power will lead them to build a society of equals.”
The president spoke out against those who try to discredit Venezuela and interfere in its internal affairs, recalling that whoever messes with the country “dries up.”
“Anyone who has messed with Venezuela has dried up,” he said, “anyone who has spoken ill of Venezuela will fall, anyone who speaks or messes with Venezuela and its democracy will crumble and the Venezuelan people will continue on their path toward happiness, their path towards joy.”
(RedRadioVE) by Ana Perdigón
Translation: Orinoco Tribune
OT/JRE/AU
