"I'm going on a very important trip to confront the drop in our homeland's income [90 percent of Venezuela's export is oil]. My tour of OPEC countries seeks to establish a strategy for recovering the price and strengthening the organization," Bloomberg Businessweek quoted Maduro as saying.
Falling oil prices forced the government to reconsider "all investment plans" and look for new ways to obtain foreign currency, according to Maduro.
On December 30, 2014, the price of a barrel of Venezuelan oil reached $48, while in September 2014 it stood at $95 per barrel.
Maduro announced on December 30 the launch of the economic recovery plan, which should ensure a steady economic growth in the country. The plan is divided into three parts: half a year, two years and four years respectively. The main objectives are to guarantee the maintenance and increase of social investment, to provide the internal market with goods as part of the fight against the so-called "economic war", as well as to expand national and foreign financing of industries.
The plan also involves the adjustment of the exchange policy and tax reform to increase fundraising and ensure social investments, optimization of state financing and an increase of Venezuela's financial reserve in US dollars.
