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Venezuela state employees to work two-day week to save energy

Simpleχity;1065809115 said:
Venezuela state employees to work two-day week to save energy



The problems in Venezuela continue to mount. The government of Nicolas Maduro has declared an economic emergency. There are now daily rolling blackouts (of up to 4 hours) due to an electricity shortage caused by low water levels at the Guri hydroelectric dam which provides 75% of Venezuela's electricity. The government says the electricity rationing will last for at least 40 days. Low water levels are also effecting water supply and pressure. The prices of staple items is growing exorbitant and supermarket shelves are becoming empty. Inflation skyrocketed 141% in 2015 and could increase by another 500% in 2016. The government is cash strapped due to low global oil prices. Venezuela's economy shrank 5.7% in 2015 and is expected to contract an additional 8% this year. The Bolivar (Venezuela's currency) is now worth less than a penny on the black-market exchange. The nations hard-currency reserves are severely depleted. Venezuela owes over $10 billion in debt payments which will be due in October and November. The country will certainly default. No eggs, no milk, low water pressure, electricity rationing, increasing layoffs. Social unrest is climbing.
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Well looks like the end wont be long now. I feel like pitying the Venezuelans but then again, they elected Maduro so I cant feel sorry for them. A centrally planned, socialist economy never works.
 
Medusa said:
he is just social democrat,not socialist
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A president who uses executive orders against the People's will, does not believe in democratic principles.
 
American said:
A president who uses executive orders against the People's will, does not believe in democratic principles.
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It depeds on what you understand from democracy
 
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