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Chavez Needs Every Fridge in Venezuela
Venezuelan President Hugo Chavez says he plans to nationalize the country’s food industry and trade “up to the last fridge”, driving dominant American companies out of the market. The leftist leader has also set his heart on money and tax reforms.
Hugo Chavez announced the nationalization of strategic industries after his election in December. Last week he announced an intention to nationalize all food warehouses and supermarkets that violate price controls. These measures came following a hike in sugar, meat and milk prices in early February.
Those in the food industry argue that the price controls prevented them from making any profit.
A decree which gives the go-ahead to the nationalization of food enterprises and warehouses came into force last week.
Along with threats, the Venezuelan government promises support for food producers by state subsidies and a gradual decrease in VAT from 14 percent to 9 percent.
The Venezuelan president on Thursday announced plans for removing three zeroes from the denomination of Venezuela’s currency, saying it was “psychologically damaging for $1 to be worth so many bolivars”.
www.kommersant.com
All the Article in Russian as of Feb. 19, 2007
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