Chavista Socialism Has Destroyed 570,000 Businesses in Venezuela

Only 230,000 companies remain of the 800,000 that opened in Venezuela during Hugo Chavez’s regime, meaning 570,000 have shut down. Price controls, labor laws and threats are the main reasons that experts think caused Venezuela’s industrial collapse, and which left the business sector in ruins. According to unofficial and preliminary figures from the Central Bank of Venezuela, the 2016 inflation was 830 percent and the Gross Domestic Product fell 23 percent. There will be no end to Venezuela’s crisis as long as President Nicolás Maduro insists on state control of the economy, first Vice President of the National Council of Commerce and Services Alfonso Riera said. More…