Venezuela Economy Head Calls for Creativity as Oil Hits Low
- New minister signals he's against ending price controls
- Country's oil basket fell to 12-year low of $27.87 a barrel
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Venezuela’s new economy minister, who has argued that inflation doesn’t exist “in real life,” said policies to be announced on Jan. 12 would seek to avoid sacrifices by ordinary people as the price the South American country receives for oil exports plunges to a 12-year low.
“Our goal is to see how we can respond to these external restrictions without making internal sacrifices,” Luis Salas, who President Nicolas Maduro put in control of the economy this week, said Friday in an interview on the Telesur network. “That’s going to take creativity.”