Thus the Venezuelan Economy Was Militarized: a Report Connects Its Expansion with the GAESA Model of Cuba
4 Articles
4 Articles
The Venezuelan economy is going through a key moment marked by the convergence of two opposing forces: on the one hand, the sustained momentum of oil activity and the reactivation of strategic infrastructure projects; on the other, the challenge of reconstruction following the seismic events of June. Three news stories this week show how the national economy is moving, which reflect the dynamics in the macro and have consequences in the micro.
During the last decades, the Venezuelan Armed Forces built an extensive business structure that allowed them to intervene directly in strategic sectors of the economy, from oil and mining to banking, insurance, agriculture and trade, according to a report presented in Washington by the Miranda Center for Democracy. The research, titled Armies that Own Economies: Military-Commercial Capture in Cuba and Venezuela, compares the Venezuelan system wi…
Unlike in Cuba, in Venezuela it is distributed across an extensive network of entities linked to the Ministry of Defense.
A recent report by the Miranda Center for Democracy, entitled «Ejércitos que possess economías: Captacación militar-Commercial en Cuba y Venezuela», revealed that the massive flow of resources from Venezuela not only sustained the economy of the island, but was instrumental in financing and consolidating the Grupo de Administración Empresarial S.A. (GAESA), the military holding company that now controls between 40% and 50% of the Cuban economy. …
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