Russia Offers Venezuela Plan on Revitalising Economy - Deputy Finance Minister

© AP Photo / Fernando LlanoA customer leaves a Banesco's bank branch as other wait in line, in Caracas, Venezuela, Friday, May 4, 2018
A customer leaves a Banesco's bank branch as other wait in line, in Caracas, Venezuela, Friday, May 4, 2018 - Sputnik International
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MOSCOW (Sputnik) - Russia has proposed Venezuela an informal plan to revive the country's economy and is waiting for a response from Caracas, Russian Deputy Finance Minister Sergey Storchak told Sputnik on Tuesday.

"We have made a proposal [to Venezuela]. An informal one. Traditionally, a project is devised after consultations and partners provide a response to this project", the official said on the sidelines of the Gaidar Forum.

He also addressed the deal on restructuring Venezuela's debt to Russia.

READ MORE: Venezuela Hit With 1.7Mln Percent Inflation Rate in 2018 — Senior Lawmaker

"Agreements have already been reached. They are making payments in line with a new schedule", Storchak added.

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Venezuela is facing a political and economic crisis prompted by the fall of oil prices and the consequent fall of state revenue, as well as sanctions, imposed by Washington.

Galloping inflation and a shortage of goods have sparked mass protests across the country, while scores of Venezuelans are fleeing the tough situation abroad.

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