By Dominic Casciani, BloombergBusinessweek editorIt’s no secret that Venezuela is a big problem for the world economy.
A lack of food, electricity and medicine, along with a lack of healthcare infrastructure, make life in the country very difficult.
But this problem has taken a toll on the lives of Venezuelans, and that’s one of the reasons why President Nicolas Maduro is trying to help them with a range of measures.
In his latest initiative, Maduro announced on Monday that he is launching a nationwide healthcare program that would cover 1.6 million people, with the aim of raising the standard of life.
He announced the program in a speech on Monday, and said that his government would be providing healthcare and other social benefits to all Venezuelans by the end of 2019.
The program, which would cover everyone between the ages of 14 and 65, would start with a 1.1-billion-peso ($6 billion) fund for basic medical needs.
Maduro said the money would be used to cover the costs of health care for the poor and people with disabilities, including those with kidney disease.
The fund will cover the basic medical expenses of all Venezuelan citizens.
It is estimated that this program will cost about $1.3 billion a year.
Maduro also announced that he would spend $3 billion on an initiative to improve the quality of the healthcare system, including a new health center and an overhaul of the health system itself.
The government would set up new health centers that would provide free and low-cost care to the population, Maduro said, with a goal of improving access to healthcare services for the poorest Venezuelans.
He also announced plans to expand a new public hospital that would be run by private companies, and expand the number of doctors to allow for more services for poor people.
The announcement comes amid an economic crisis that has seen inflation climb above 100 percent, and shortages of medicine, fuel and medicine that Venezuelans have to pay for.
Venezuelans are also facing the prospect of a massive economic collapse in the near future due to economic sanctions imposed by the U.S. and European Union.