Chavez vows to spend oil windfall revenues on social programs http://en.rian.ru/world/20110423/163660897.html

Venezuelan President Hugo Chavez has announced that extra income from the country’s oil exports will be allocated for social spending.Venezuela, South America’s biggest oil producer, has been receiving sharply higher income from its oil exports in recent months. Global prices on Venezuelan oil averaged $107 per barrel last week, while the 2011 state budget was balanced with the $40 per barrel benchmark.“I have signed a decree that authorizes spending additional revenues from oil sales on the implementation of various social programs for the country’s population,” Chavez, who will seek re-election next year, said on national television on Friday.

[also see..A Book About Chavez: The Russian Perspective http://www.tiwy.com/news.phtml?id=191  MY OLD CHAVEZ BLOG WITH LIST OF HIS ACOMPLISHMENTS(ILL UPDATE IT SOON ;)) CHAVEZACOMPLISHMENTS LIST http://chavezachievements.blogspot.com/2010/04/in-four-years-poverty-has-been-cut-in.html MY VENEZUELA SECTION http://thenakedfacts.blogspot.com/search/label/venezuela