Deputy forecasts forex rate adjustment in Venezuela
Economic reforms are expected this year, and ministers will gradually announce them
Adjustments may include changes in the price of some goods and services, and the foreign exchange rate, as well as some fiscal reforms and steps to curb speculation.
The former finance minister pointed out that "the main goal is to preserve economic growth as it is vital for economic policy-making."
The deputy also suggested that devaluation should be used as a tool to improve the competitiveness of the Venezuelan economy in the international arena through industrialization.
Translated by Jhean Cabrera
President Nicolás Maduro is not only the heir to the throne, but also to an economic crisis which demanded urgent measures to rectify the course. The crisis showed up in two aspects: a 50% inflation estimate, and shortage of staples ranging between 70% and 98%. These issues might hit the President's poor popularity; considering his feeble electoral victory of 1% over his challenger.