. . "Sources: EIA 1, EIA 2"@en . . . . . . . . . . . . . . . . . . . . . . . . . . "Venezuela oil revenues 1975 -.png"@en . . . . . . . "1980.0"^^ . . . . . . . "right"@en . . . "PDVSA Gas Nueva Esparta.jpg"@en . . . "May 2014"@en . . "Venezuela oil production-exports.png"@en . "Economic policy of the Hugo Ch\u00E1vez administration"@en . . . . . . . . . "From his election in 1998 until his death in March 2013, the administration of the late Venezuelan President Hugo Ch\u00E1vez proposed and enacted populist economic policies as part of his Bolivarian Revolution. In the early 2000s when oil prices soared and offered Ch\u00E1vez funds not seen since the beginning of Venezuela's economic collapse in the 1980s, Ch\u00E1vez's government became \"semi-authoritarian and hyper-populist\" and consolidated its power over the economy in order to gain control of large amounts of resources. Domestically, Ch\u00E1vez used such oil funds for populist policies, creating the \"Bolivarian missions\", aimed at providing public services to improve economic, cultural and social conditions. Such policies included redistribution of wealth, seizure and redistribution of land, and democratization of economic activity via workplace self-management and creation of worker-owned cooperatives. Internationally, the Ch\u00E1vez administration used oil production to increase autonomy from United States and European governments and used oil funds to promote economic and political integration with other Latin American nations. Venezuela's economy improved dramatically during much of the Ch\u00E1vez presidency, trending positive until the worldwide oil price collapse in 2013. From 1999 through 2013, inflation dropped to its lowest levels in the country since the late 1980s; unemployment dropped drastically, following many years of increases before Ch\u00E1vez was elected. In 1999, when Ch\u00E1vez took office, unemployment was 14.5 percent; for 2011 it had declined to 7.8 percent. Poverty also decreased significantly, dropping by nearly 50 percent since the oil strike, with extreme poverty dropping by over 70 percent. As Ch\u00E1vez's successor Nicol\u00E1s Maduro began to increase domestic spending after the oil price collapse, high inflation, currency controls, an unfriendly environment with private businesses, as well as the risk of default, prevented the entrance of stronger foreign currencies into Venezuela. Previously, the Ch\u00E1vez government turned to China to fund its overspending on social programs. Despite warnings near the beginning of Ch\u00E1vez's tenure in the early 2000s, his government continuously overspent in social spending and did not save enough money for any future economic turmoil, which Venezuela faced shortly before and after his death. Other industries suffered as a result of the over-reliance on oil, with the share of manufacturing in GDP dropping from 17.4% in 1998 when Ch\u00E1vez took office to 14.2% in 2012. As a result of Ch\u00E1vez's overspending and policies such as price controls, there were shortages in Venezuela and the inflation rate grew to one of the highest in the world."@en . . . "Source: EIA"@en . "1111127879"^^ . . . . . . . . . . . . . . . "PDVSA petroleum facility on Margarita Island."@en . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . "400"^^ . . . . . . . . "From his election in 1998 until his death in March 2013, the administration of the late Venezuelan President Hugo Ch\u00E1vez proposed and enacted populist economic policies as part of his Bolivarian Revolution."@en . . . "22003933"^^ . "current source does not say anything about developers avoiding Venezuela due to massive number of expropriations."@en . . . . . . . . . "vertical"@en . . . . . . . . . . . . . . . "Desde su elecci\u00F3n en 1998 hasta su muerte en marzo de 2013, el gobierno del fallecido presidente venezolano Hugo Ch\u00E1vez propuso y promulg\u00F3 pol\u00EDticas econ\u00F3micas populistas como parte de su Revoluci\u00F3n Bolivariana. A principios de la d\u00E9cada de los 2000, los precios del petr\u00F3leo se dispararon y le ofrecieron fondos al gobierno de Ch\u00E1vez no vistos desde el comienzo del colapso econ\u00F3mico de Venezuela en la d\u00E9cada de 1980.\u200B\u200B A nivel nacional, Ch\u00E1vez utiliz\u00F3 esos fondos petroleros para pol\u00EDticas sociales, creando las \"Misiones Bolivarianas\", destinadas a brindar servicios p\u00FAblicos para mejorar las condiciones econ\u00F3micas, culturales y sociales de los venezolanos.\u200B Estas pol\u00EDticas inclu\u00EDan la redistribuci\u00F3n de la riqueza, una reforma agraria y la democratizaci\u00F3n de la actividad econ\u00F3mica mediante la autogesti\u00F3n del lugar de trabajo y la creaci\u00F3n de cooperativas propiedad de los trabajadores A nivel internacional, la administraci\u00F3n de Ch\u00E1vez utiliz\u00F3 la producci\u00F3n de petr\u00F3leo para aumentar la autonom\u00EDa de Venezuela de los gobiernos de Estados Unidos y Europa, y utiliz\u00F3 los fondos petroleros para promover la integraci\u00F3n econ\u00F3mica y pol\u00EDtica con otras naciones latinoamericanas. La econom\u00EDa de Venezuela mejor\u00F3 dram\u00E1ticamente durante gran parte de la presidencia de Ch\u00E1vez, con una tendencia positiva hasta el colapso del precio del petr\u00F3leo en 2013.\u200B Desde 1999 hasta 2013, la inflaci\u00F3n cay\u00F3 a sus niveles m\u00E1s bajos en el pa\u00EDs desde fines de la d\u00E9cada de 1980, y el desempleo se redujo dr\u00E1sticamente, luego de muchos a\u00F1os de aumentos antes de que Ch\u00E1vez fuera elegido. En 1999, cuando Ch\u00E1vez asumi\u00F3 el cargo, el desempleo era del 14,5 por ciento; para 2011 se hab\u00EDa reducido al 7,8 por ciento. La pobreza tambi\u00E9n disminuy\u00F3 significativamente, cayendo casi un 50 por ciento desde la huelga petrolera, y la pobreza extrema disminuy\u00F3 en m\u00E1s del 70 por ciento. A medida que el sucesor de Ch\u00E1vez, Nicol\u00E1s Maduro, comenz\u00F3 a aumentar el gasto interno despu\u00E9s del colapso del precio del petr\u00F3leo, la alta inflaci\u00F3n, los controles de divisas, el riesgo de incumplimiento impidieron la entrada de divisas extranjeras a Venezuela.\u200B El gobierno de Ch\u00E1vez recurri\u00F3 a China para financiar su gasto en programas sociales. A principios de la d\u00E9cada de 2000,\u200B el gobierno de Ch\u00E1vez gast\u00F3 continuamente en gastos sociales.\u200B\u200B Otras industrias sufrieron como resultado de la dependencia del petr\u00F3leo, y la participaci\u00F3n de la manufactura en el PIB cay\u00F3 del 17.4% en 1998 cuando Ch\u00E1vez asumi\u00F3 el cargo al 14.2% en 2012.\u200B Como resultado del gasto y de pol\u00EDticas como el control de precios, hubo escasez en Venezuela y la tasa de inflaci\u00F3n creci\u00F3 a una de las m\u00E1s altas del mundo.\u200B\u200B\u200B"@es . . . . . . . . "Oil production and net petroleum exports. Reductions in exports raised oil prices, assisting Ch\u00E1vez's policies."@en . . . . . . "Pol\u00EDtica econ\u00F3mica del gobierno de Hugo Ch\u00E1vez"@es . . . . . "94855"^^ . . . . . "Desde su elecci\u00F3n en 1998 hasta su muerte en marzo de 2013, el gobierno del fallecido presidente venezolano Hugo Ch\u00E1vez propuso y promulg\u00F3 pol\u00EDticas econ\u00F3micas populistas como parte de su Revoluci\u00F3n Bolivariana."@es . . . . . . . . . . . . . .