Venezuela is entering a period of economic recovery, with possibilities for better consolidation and stability in terms of social welfare in 2022, according to Jess Faras, president of the National Assembly's Committee on Economy, Finance, and Development (Parliament).

One of the hallmarks of this stability, according to the deputy, is a persistent fall in inflation for the first time in recent years.

In an interview with Venezolana de Televisión, the legislator said, “This is an indicator that the economy is beginning to stabilize definitively, and it is a fundamental condition for the growth of production.” 

Faras stated that a recovery process is already underway, as seen by the rebirth of the oil sector, private investment, and political stability, among other things.

Faras stated that oil production, the country's major source of revenue and the region worst damaged by the US's coercive measures, is showing indications of progressive reactivation thanks to "enormous effort of the employees and the support of foreign allies, among which is Iran."

In addition, the deputy said that, despite the constraints posed by the so-called sanctions, Venezuela has restored confidence and assurance in its ability to invest.