Audio By Carbonatix
In Venezuela, Christmas has begun in November.
President Nicolas Maduro has launched a plan dubbed "Operation Merry Christmas" to lower the cost of toys, clothes and appliances for shoppers, potentially boosting his slumping poll numbers as the country struggles with a weakening economy.
With soldiers selling subsidized holiday food and some 27,000 government inspectors leaning on private businesses to cut prices, Maduro hopes to take the edge off the country's 63 percent inflation during the Christmas shopping season.
That may help him improve approval ratings that dropped to 30 percent in September, according to pollster Datanalisis.
The government's price control czar Andres Mendez kicked off the holiday shopping season earlier this month with orders that businesses keep prices down and warnings that merchants must not charge more than 30 percent markup on any item.
Within days, shops were slashing prices and soldiers were organizing Christmas 'fairs' full of subsidized goods from food to electronics.
One throng of people gathered outside a downtown Caracas toy store to pick up cut-rate Barbie dolls that had been marked down by nearly 80 percent to 553 bolivars, only around $5 at the black market exchange rate.
"I'm buying six Barbies before they run out," said Carmen Suarez, a mother of two who got permission to leave work. "They said I could buy six as long as I didn't buy the same model twice."
The strategy has worked for Maduro before. A year ago, he enjoyed a sharp jump in poll numbers after a theatrical wave of forced price reductions that boosted the Socialist Party's standing in the subsequent municipal elections.
Maduro and his ministers accuse the opposition, together with business leaders, of leading an 'economic war' to artificially spur consumer prices and create product shortages.
His detractors say the country's inflation rate of more than 60 percent, the slowing economy and nagging shortages of staple goods symbolize the failure of late socialist leader Hugo Chavez's state-led economic model.
Even those benefiting from the state's largesse are tired of the now-customary long lines.
"The government has good intentions, but they need to find a different way to do this," said Alberto Monsalve, 36, who waited overnight in a line to buy a laptop computer for 8,300 bolivars, less than $75 at the black market exchange rate.
Latest Stories
-
COMAC to hold emergency meeting on January 21 over fuel price floor policy
4 minutes -
NPP Primaries: ‘I only trust election day poll’ – Dr Adutwum
8 minutes -
Two babies die in incident at unlicensed Jerusalem daycare centre
14 minutes -
Bawumia faces fresh questions over consistency, electoral logic and economic silence
22 minutes -
‘Europe is at a total loss’: Russia gloats over Greenland tensions
31 minutes -
MMDCEs urged to clamp down on rogue drivers, mates over unapproved transport fares
34 minutes -
Curfew renewed in Nkwanta amid security concerns
37 minutes -
From Accra to the UN: How Ghana is leading Africa’s new “Decade of Reparations”
39 minutes -
Italian fashion designer Valentino dies aged 93
40 minutes -
Illicit arms more dangerous than drugs – Dr Adam Bonaa
1 hour -
Local expertise is the new reality of the African iGaming market
1 hour -
Italian fashion designer Valentino dies
1 hour -
Gold and silver prices hit high after tariff threat
1 hour -
Bryan Acheampong takes NPP flagbearer tour to Eastern Region, pledges unity and discipline
1 hour -
Responsive brands: Making brand loyalists out of customers
1 hour
