FX.co ★ Venezuela’s government squanders people’s money

Venezuela’s authorities continue to profit from the ordinary people. According to the recent survey of government spending, the greater part of the money that the country receives for selling natural resources is used to pay debts to Russia and China. Most people in Venezuela do not have a permanent income. Moreover, the government is not able to provide people with living essentials. US Special Representative for Venezuela Elliott Abrams said that the Venezuelan people have never benefited from the hydrocarbons exports. However, this state of affairs was established long before the introduction of the US sanctions in January 2019. The most awful thing is that the exports revenue was used to fight against the Venezuelan people. Nicolas Maduro sold oil to pay for the people suppression and siphoned billions of dollars to enrich bank accounts of the government members. All gains from the export of natural resources were spent on private military companies instead of the elimination of food and medical supplies deficit.