Daily Archives: June 20, 2005

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Chavez to raise spending on education, health care, housing and pensions to 40 percent of all government expenditure

Venezuela’s Chavez Runs Up Debt Shunting Oil Wealth to the Poor 16 June 2005 | Bloomberg Venezuelan housewife Sabrina Munoz saves as much as a third on the price of flour, meat and beans by shopping at Mercal, a government-owned supermarket near her Caracas home overlooked by hillside shanties. She thanks President Hugo Chávez. “Mercal is an example of the good Chavez does,” says Munoz, 50, a mother of four. “He’s such a humanitarian.” Backed by a quadrupling of oil prices since he took office in early 1999, Chavez, 50, has boosted spending on food subsidies, education and health care […]