In further moves to strengthen the state鈥檚 role in the economy, Venezuelan President Chavez announced on May 11 the creation of a publicly owned import-export company as part of a broader plan to combat 鈥渢he hegemony of the bourgeoisie鈥, speculation and inflation.
Despite price controls and a fixed exchange rate, inflation reached 25.1% in 2009 鈥 the highest in Latin America.
Central bank figures reported inflation climbed 5.2% in April (double that of March), bringing accumulated inflation for 2010 up to 11.3%.
United Socialist Party of Venezuela (PSUV)
The May 2 internal pre-selection of United Socialist Party of Venezuela (PSUV) candidates for the September 26 national elections was an example of the mobilising force of this mass party in construction.
More than 2.5 million party members participated. This demonstrated the PSUV is the largest national political force, and highlighted its democratic and participatory nature.
The participation rate was greater than the 2.3 million people who voted to pre-select PSUV candidates for governors and mayors in 2008.
The United Socialist Party of Venezuela (PSUV) concluded its five-month extraordinary congress on April 25 with the approval of highly anticipated party principles and statutes. This was just in time for primaries on May 2, in which millions of PSUV members will choose parliamentary candidates to run against a newly united opposition platform called the 鈥淒emocratic Alternative鈥 in September.
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