Delcy Rodríguez, serving as the acting president of Venezuela, announced on Tuesday that the Chávez regime has mapped out a comprehensive economic strategy stretching until 2040. The goal, according to Rodríguez, is to transform the nation into an "economic powerhouse." Her remarks, shared in a video on the social platform X, prompted widespread reactions online.
"We have a very clear economic program that we will follow through to 2040 to harness Venezuela's capabilities and potential. We aim to establish Venezuela not only as an energy leader but as a full-fledged economic force by diversifying all its capacities," Rodríguez stated in the video.
To substantiate her claims, Rodríguez cited several official statistics: a 6.6% growth in the third quarter of 2026, a 23% rise in the population's consumption capacity over the past year, and 22 consecutive quarters of economic recovery. She also highlighted improvements in tax collection, oil production, and the construction sector.
However, independent international organizations paint a more pessimistic picture. The International Monetary Fund (IMF) forecasts an average annual inflation rate of 467.9% for Venezuela in 2026, with over 70% of the population living in poverty.
PDVSA's oil production stands at around 1.2 million barrels per day, significantly below the two million barrels produced in 2016. Both CEPAL and the IMF acknowledge economic growth but estimate it between 5% and 6.5% for the year, figures that fall short of government projections.
The plan outlined by Rodríguez is essentially an extension of the "Economic Recovery, Prosperity, and Growth Program" initially launched in 2018 under Nicolás Maduro. It was updated in July 2026 to include ten strategic sectors aimed at sectorial reactivation.
These statements come amid heightened political pressure on the Chávez regime. On November 2, U.S. Secretary of State Marco Rubio met with Venezuelan Foreign Minister Oliver Blanco, restating Washington's three-phase plan for Venezuela: economic stabilization and recovery, political reconciliation, and a democratic transition with free elections. Rubio also demanded the continued release of political prisoners.
The pressure is further compounded by the return of opposition leader María Corina Machado. After nearly ten months in exile, Machado re-entered Venezuela on October 25, traveling overland from Colombia, first appearing in Barquisimeto and then arriving in Caracas in a caravan. Rodríguez dismissed her return as a "show."
On October 28, the opposition's Unitary Platform introduced a "National Grand Agreement" with 14 initiatives and a roadmap towards general elections. Machado has suggested that a possible presidential election could take place in 2027, contingent on political agreements and institutional reforms, including appointing new Supreme Court justices and reforming the National Electoral Council.
As the regime seeks to project stability through a long-term economic plan, the international community and opposition demand that any recovery must be accompanied by genuine democratic openness, with free elections as a non-negotiable prerequisite.
Understanding Venezuela's Economic and Political Landscape
What is the goal of Venezuela's economic plan until 2040?
The plan aims to transform Venezuela into an economic powerhouse by 2040, leveraging the country's capabilities and diversifying its economic strengths beyond energy.
How do international organizations view Venezuela's economic outlook?
Organizations like the IMF project a dire economic situation for Venezuela, with high inflation and significant poverty, contrasting with the government's optimistic claims.
What are the key elements of the U.S. plan for Venezuela?
The U.S. plan involves three phases: economic stabilization and recovery, political reconciliation, and a democratic transition with free elections.