Industries claim further steps to boost domestic production
The Venezuelan Confederation of Industries (Conindustria) stressed that production will not be ensured by devaluating the currency. It is also important to secure duly the sale of US dollars
"It is important to highlight that the actions taken as part of the foreign exchange policy will not be enough to boost domestic production. It is vital to guarantee the proper flow of US dollars so that companies can keep up with their operations. This will also ensure consumers' access to goods and services," Conindustria remarked.
Although the entrepreneurs were confident that the adjustment of the foreign exchange rate was essential and could not be put off," it is important to adopt actions to increase companies' profitability.
Moreover, Conindustria warned that the new foreign exchange rate (VEB 6.30 per US dollar) will unavoidably have an impact on production costs, not only because of its implementation, but also because it comes along with a 20% increase in the tax unit.
Translated by Jhean Cabrera
That political protest in Venezuela has lost momentum seems pretty obvious: people are no longer building barricades to block off streets near Plaza Francia in Altamira (eastern Caracas), an anti-government stronghold; no new images have been shown of brave and dashing protesters with bandanna-covered faces clashing with the National Guard in San Cristóbal, in the western state of Táchira; and those who dreamed of a horde of "Gochos" (Tachirans) descending in an avalanche to stir up revolt in Caracas have been left with no option but to wake up to reality.