Caracas, July 9 (RHC) -- Cuban economist and former guerrilla combatant Orland Borrego, who fought alongside Che Guevara during the Cuban Revolution, will be advising Venezuelan President Nicolas Maduro on how to establish a “total re-structuring” of the Venezuelan economy.

Borrego, who holds a doctorate in economics from the former Soviet Union's Academy of Sciences in Moscow, will work beside Venezuelan Vice President Jorge Arreaza and Deputy Minister of Planning Ricardo Melendez to conduct “a profound revolution in public and state administration; the revolution within the revolution,” announced by Maduro on July 1st.

The government “shakeup,” as denominated by the South American president, will also include an “exhaustive revision” of the national budget, in an attempt to eradicate corruption and inefficient spending.

The announcement comes shortly after Cuba takes steps to broaden its own economy. At a conference held yesterday in Caracas, Cuban ministers met with public and private Venezuelan investors to discuss the terms of the nation’s new Foreign Investment Law, in effect since April. Cuban Commerce Minister Rodrigo Malmierca recognized Venezuela as its first trade partner under the new law, which aims to stimulate economic growth in Cuba by over five percent, while maintaining a social focus.

Once Cuba’s industry minister, Borrego has spent the last several decades writing and teaching at the University of Havana.