An interesting Editorial from El Diario:
An economy with money but no production
Incredible setbacks are happening in the country, especially in the economic and financial; for example, flaunts international reserves and boasts that there is lot of money; however, loans with the purpose of a work programmed by the Government are handled. Speaks of extraordinary income from exports of gas to Argentina and Brazil, revenues that had never occurred in our history; however, it is said that there is no disbursements for projects carried out by the municipalities.
Internally and externally, it is ensured that our rate of economic growth are very large; argues that we have conquered extreme poverty; that levels of unemployment across the country have decreased. that our production parameters have increased; that we have diversified the economy; we are better than many countries in the continent; anyway, it says both and they should be as good as in any third world nation – and much more in any of the Fourth World – that may be harboring feelings of envy.
Despite all of this, data on the country’s growth are even lower than those registered in neighboring countries. Say that we’ve won situations of extreme poverty is not clear because this evil can be seen anywhere in the country. Unemployment is, surely, one of the highest in the continent and the proof is that there are thousands of professionals who are engaged in activities very unrelated to their profession and, in cases, dedicated to the informal economy. Diversification of our economy can not be assured when it is seen that it had been stuck for many years.
It is evident, on the other hand, we have reserves, moneys received in respect of loans and even some debt forgiveness; however, the increased income of money is due to the international gas prices that, compared to what happened until more than ten years, was paid to “price of gold”. This implies that we must give thanks to the international context because what we receive from the gas is not effect of our production or exports.
Mining, which had remarkable prices until recently, could be the means to accumulate more money, but as there is no investment, production is almost paralyzed and up to major centers with large pictures of ore do not produce what could be counting on good investments. The category of other raw materials – aside from gas and minerals – has had no significant rises. The conclusion is that there is lots of money as reserves, but there is no production which, if any, could be multiplied by several figures from what there is.
There is a truth: we must act with sincerity and show economic and financial scenarios as they are; meanwhile, there are perhaps optimistic visions purposes to ensure results in upcoming elections or to show to the international consensus that we might live on the eve of being like the Swiss.
In short, the ruling ochlocracy is killing the best time ever to overcome poverty with sustainable development.