MinFinanzas and BCV publish National Economic Policy Agreement

The Ministry of Economy and Finance and the Central Bank of Venezuela (BCV) published the National Economic Policy Agreement for 2027, according to the outlet Bitácora Económica, on October 27, 2026. It is the first time in thirteen years that this document, established in Article 320 of the Constitution to coordinate the country's fiscal and monetary policies, has been signed.

The text formalizes a target of economic growth of between 6% and 10%, as well as double-digit inflation by the end of 2027. According to a report by Descifrado, the measure seeks to strengthen coordination between fiscal and monetary authorities through optimizing public spending, moderating exchange rate fluctuations, and managing liquidity flows in coordination with state-owned banks.

To put the inflationary context in which this measure is being adopted into perspective, the International Monetary Fund (IMF) recorded annual inflation of 337.5% in 2023, 49.4% in 2024, and 252.0% in 2025. Likewise, the agency's projections place annual inflation at 387.4% for 2026 and 94.4% for 2027.

The agreement provides for the creation of high-level technical bodies to periodically evaluate fiscal and monetary performance, as well as the obligation to submit follow-up reports to the National Assembly to ensure compliance with the established objectives.