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In 2003 and 2004 Chávez launched a number of social and economic campaigns which had become possible as for the first time he had a good economy and the oil industry, which produces 80% of Venezuela's exports by value, 25% of its GDP, and 50% of the government's income, was for the first time not under hostile management.
In 1970, Venezuela had been one of the 20 wealthiest countries in the world measured by gross domestic product (GDP) per capita; Pérez turned the country "into a socialist nightmare of price ...
President Chávez voting. A constitutional referendum was held in Venezuela on 2 December 2007 to amend 69 articles of the 1999 Constitution. [1] President Hugo Chávez and supporters claimed the changes were needed to initiate the transformation into a socialist country; opponents claimed the reforms would undermine democracy in the country.
There's not much left of the so-called Bolivarian Revolution—a socialist political process that began in 1999, headed by then-President Hugo Chávez. Endless food lines, a severe shortage of basic goods and an annual inflation rate estimated at 160 percent became the standard image of a country long considered a "petrostate". But with the ...
[22] [25] The United Socialist Party of Venezuela (Partido Socialista Unido de Venezuela, PSUV) was created in 2007, uniting a number of smaller parties supporting Hugo Chávez's Bolivarian Revolution with Chávez's Fifth Republic Movement.
MAS was founded in 1971, with a view to emphasising a socialist message. Initially led by Teodoro Petkoff, its first congress was held on January 14, 1971.In 1988 another left-wing party, the Movement of the Revolutionary Left, merged with MAS.
Twenty years after Hugo Chávez gained power in Venezuela, promising a workers’ paradise, the United Nations has finally acknowledged that his regime and that of his successor, Nicolás Maduro ...
The PCV became the Venezuelan affiliate of the Communist International. A forerunner of the PCV, the Venezuelan Revolutionary Party, had been founded in exile in Mexico in 1926 and attempted a rebellion in Venezuela in 1929.