To put a brake on inflation rates and prevent the standard of living and economic activity to deteriorate, the Economy and Finance minister, Alí Rodríguez Araque, is drafting guidelines for a new plan along with the country’s central bank. Measures will be taken that affect food, restaurants, public transport and healthcare.
 
According to the minister, it is necessary to restrain demand in industries that are not fundamental for the economy or for the population. Members of the economic cabinet have been saying the same thing for a few weeks now. The objective is to strike a balance between supply and demand.
 
A few proposals have been announced, namely the end of the tax on financial transactions, the provision of funds for the manufacturing industry, subsidies for the production sector and a review of farm debts. In addition, the Finance Commission of the Chamber of Deputies intends to draft new measures to ensure greater efficiency in public expenses, to review liquidity behaviour on a frequent basis and to provide more funds to encourage the production of goods.
 
These measures are a consequence of the 15.1% inflation rate in the first half-year of 2008. It has become necessary to keep prices stable and ensure that the figure does not exceed 19.5% by the end of the year.