Cuts in foreign currency sales to the private sector for importing commodities, supplies, and finished products threaten to sink Venezuela's economy into recession. The economy has already slowed down, as growth declined from 5.6% in 2012 to 1.6% in 2013. It all seems that negative growth could be recorded in the first quarter. The automotive industry reported production at 296 units in January, plummeting 84% with respect to January 2013. More...
Friday, February 7, 2014
Venezuela's economy on the brink of recession
Cuts in foreign currency sales to the private sector for importing commodities, supplies, and finished products threaten to sink Venezuela's economy into recession. The economy has already slowed down, as growth declined from 5.6% in 2012 to 1.6% in 2013. It all seems that negative growth could be recorded in the first quarter. The automotive industry reported production at 296 units in January, plummeting 84% with respect to January 2013. More...
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