Thursday, December 6, 2012

VENEZUELA: POLLS

Chavez may have won the right to relections, but it would be in vain if he cannot revive the economy

But then, the future will not be very easy for Chavez as much as it seems to him. Despite the current victory, opinion polls have suggested that people are actually against his getting re-elected. While his recent win does put a question mark on how much reliable these opinion polls are, it can’t be denied that Chavez is sitting at the helm of all the activities in Venezuela. The reduction in poverty and all the economic growth that Chavez talks about has been possible because of the high rate of Venezuelan oil in the market and the way he has given Venezuelans equitable share of the oil bounty. Now that the prices have fallen from $90 last year to below $40, it would be tough for Chavez to go with his economic talk.

Moreover, inflation is now touching the 30% level. As per projections by the Economist Intelligence Unit, the Venezuelan economy is expected to contract by 3% in 2009 and 5.4% in 2010.

“What Venezuelan voters decide is their business,” said John Walsh, Washington Office on Latin America, an independent think tank, “but a threshold does seem to have been crossed.” Chavez often jokes that he wants to stay in power till 2049! But if his governance model falls flat, he may have to cut down on that hugely ambitious target by quite a bit!


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri

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