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Chavez Promises Increased Spending for Housing Projects VOA News 1 Mar 2002 06:06 UTC 
Venezuelan president Hugo Chavez is promising new spending on housing, education and aid for small businesses, in response to a sagging economy.
In a televised address to the nation late Thursday, the president promised to spend a billion dollars to help Venezuelans fund housing projects. He pledged to spend some 190 million dollars to make loans to small and medium-sized businesses.
Mr. Chavez has also promised funds for education, food, and health care.
The value of the Venezuelan currency has slumped by more than 20 percent against the dollar since the president instituted a free-floating exchange system on February 13.
Some information for this report provided by AP and Reuters.
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