La Causa R proposes social security fund using oil royalties

The opposition party La Causa R has proposed the creation of a social security fund financed by oil royalties. The initiative aims to redirect wealth from natural resource extraction directly to Venezuelan workers and pensioners to restore dignity and address the country's deep economic and social crisis.

Andrea Tavares, the party's general secretary, stated that wealth extracted by public or private companies belongs to the citizens and should return to them. The proposal is intended to support pensioners, provide opportunities for active workers, and serve as an incentive for migrants to return to the country.

The proposal comes amid complex economic indicators. While the Central Bank of Venezuela reported that inflation in September was 8.4%, showing signs of stabilization, the accumulated inflation reached 225.3% through September 2026. Additionally, although the oil sector saw a 9.1% growth in the second quarter, the broader economy continues to face significant instability.