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(This January 100 story was refiled to correct typographical error in paragraph 8) CARACAS (Reuters) - Recession-hit Venezuela's imports plunged by more than half to nearly billion in 2016, President Nicolas Maduro said on Monday, as the country prioritized foreign debt payments despite chronic product shortages.
Maduro, in a meeting with businessmen, said the private sector accounted for billion of imports, while the cash-strapped public sector brought in .8 billion of products.
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Despite plunging oil revenues, Venezuela managed to pay billion in foreign debt and build 360,000 new homes in a state housing project last year, Maduro said.
But Venezuela's 30 million people have been suffering long shopping lines, while basic foodstuffs, medicines and other products have been running short.
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