ESPACIO PUBLICITARIO
CARACAS, Thursday February 21, 2013 | Update
 
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ECONOMY

Venezuela with the worst business climate in the region

According to the Getulio Vargas Foundation's report on Latin America, Venezuela recorded a setback

EL UNIVERSAL
Thursday February 21, 2013  11:24 AM
Venezuela's business climate is the worst in Latin America, according to a joint report produced by Brazilian Getulio Vargas Foundation and the University of Munich.

In the so-called Economic Climate Indicator of Latin America in January, Venezuela reached 1.5 points, way below the region's average (5.5 points) and that of Paraguay and Peru, 7 points.

Venezuela's indicator implies a setback with respect to the third quarter of 2012, when the country obtained 3.4 points.

Unlike Venezuela, the region's reported average (5.5 points) by January is the best in the last 18 months, except for Ecuador and Bolivia, whose business climates are similar to that of Venezuela.

Venezuela's economy has been mainly characterized in recent years by the implementation of different controls in the private sector. Obstacles such as difficulties to buy US dollars, price regulations on food and other products, as well as expropriations in different areas are just some of the aspects undermining the country's business climate.
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Whose victim am I?

They are marching in step to the same tune. There is a coordinated effort to position the idea. The Twitter hashtag  #YoSoyVictimaDeLaGuarimba (I'm a victim of "guarimbas", or protest barricades) can be read on all pro-government Twitter accounts, including those of the ruling United Socialist Party of Venezuela (PSUV), the National Assembly's Press Office, the state-run food distribution network PDVAL, state airline Conviasa, the Venezuelan embassies in foreign countries, radio stations and the huge media network responsive to the Government's interests and messages.

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