Boliburguesía

Boliburguesía (English: Bolibourgeoisie, a portmanteau of the words Bolivarian and Bourgeoisie) is a term describing the new bourgeois created by the Venezuelan government of Hugo Chávez and Chavismo, made up of people who became rich under the Chavez administration. The term was coined by journalist Juan Carlos Zapata, to "define the oligarchy that has developed under the protection of the Chavez government".

Corruption among the Boliburguesía and Chavez-administration sympathizers has moved millions of dollars with the complicity of public officials, with some becoming rich under the guise of socialism.Henry Ramos Allup, general secretary of opposition party Acción Democrática, has said corruption in the financial industry and other sectors of Venezuela is tied to government officials of the Chávez administration. Following the death of Chavez, the Boliburguesía became more powerful and held more influence over Venezuela.

During Hugo Chávez's tenure, he seized thousands of properties and businesses while also reducing the footprint of foreign companies. Venezuela's economy was then largely state-run and was operated by military officers that had their business and government affairs connected. Senior fellow at the Brookings Institution, Harold Trinkunas, stated that involving the military in business was "a danger", with Trinkunas explaining that the Venezuelan military "has the greatest ability to coerce people, into business like they have". According to Bloomberg Business, "[b]y showering contracts on former military officials and pro-government business executives, Chavez put a new face on the system of patronage".

According to Corrales and Penfold in Dragon in the Tropics, the Boliburguesía consists of "a small group of ruling party elites, military factions, and various rent-seeking business groups" who are "calling the shots" in Venezuela.

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