Venezuela president Maduro expanding social reforms

Global Business

The last decade brought a significant reduction in poverty for Venezuelans who benefited from state-run social programs also known as “missions”. This week, Venezuelan President Nicolas Maduro announced reforms to improve the performance of programs deemed ineffective.

Carmen Victoria Sojo moved from a slum in Caracas to a brand new government housing project in the outskirts of Caracas. And even though she’s thankful for her home, the conditions are far from ideal.

The Great Housing Mission is just one of 37 social programs the government recently vouched to reform. Besides housing, the missions help provide food, health care and education to the most vulnerable.

Ten years ago, the poverty rate in Venezuela hovered above 50 percent. Today, housing, health, food and other government programs known as “missions” have helped reduce poverty to 27 percent. But with lower oil prices and a spiraling economy, does Venezuela have the resources necessary to reform the missions Economist Pablo Jimenez believes there’s a chance.

Under President Nicolas Maduro’s reforms, the missions will be overseen by a unified administration to reduce bureaucracy and corruption, and improve the efficiency of the programs. But, for people like Carmen, the clock is ticking while she waits for Maduro’s reforms. She’s undergoing cancer treatment and wants to make sure she leaves her two children an acceptable home in good condition. Maduro believes the so-called “mission system” is the cornerstone of the country’s development model and will convert Venezuela into a quote “productive economic power.” CCTV’s Martin Markovits reports from Caracas.

Venezuela president Maduro expanding social reforms

Venezuela president Maduro expanding social reforms

The last decade brought a significant reduction in poverty for Venezuelans who benefited from state-run social programs also known as "missions". This week, Venezuelan President Nicolas Maduro announced reforms to improve the performance of programs deemed ineffective.

To discuss social reforms in Venezuela, CCTV’s Rachelle Akuffo interviews John Maisto, former U.S. Ambassador to Venezuela.

John Maisto discusses about social reform

John Maisto discusses about social reform

CCTV's Rachelle Akuffo talked to former U.S. Ambassador to Venezuela John Maisto.