Venezuela's Rodriguez Announces Electricity, Tax Reforms to Boost Private Sector

Interim President Delcy Rodriguez addressed the 82nd Fedecamaras assembly on October 8, unveiling plans to reform the electricity law and tax system to attract private investment. She explicitly rejected dollarization, arguing that strengthening the bolivar is essential for economic sovereignty and commercial stability.

Rodriguez stated the electricity reform will allow private participation in generation, transmission, and distribution, with legislation expected to pass before 2026 ends. The government aims to add 1,300 megawatts to the grid by December, building on 600 MW already recovered since the June 24 earthquakes damaged infrastructure.

“It is not dollarization that will solve Venezuela's problem; it is its currency, consolidating and strengthening its national currency.”

A tax reform is also underway, designed with business sectors to harmonize fiscal burdens and support productive growth. Rodriguez claimed Venezuela expects $12 billion in public and private financing over the next two years following its return to the international financial system.

The announcements come as the U.S. added a new charge of conspiracy to commit torture against detained President Nicolas Maduro and his wife, Cilia Flores, who was denied bail on October 8.