Conindustria estimates growth exceeding 12 % in Venezuela
According to the Venezuelan Confederation of Industries, Venezuela's growth this year could surpass 12 % despite obstacles such as the exchange rate gap, the tax sector, and a lack of financing
The Venezuelan Confederation of Industries (Conindustria) recently indicated that the country’s growth this year could exceed 12 % despite certain obstacles that are slowing the economy’s momentum.
The organization referred to the “excessive” taxes, the exchange rate gap, and the lack of available foreign currency and financing as obstacles to growth. However, he highlighted that “Venezuela’s private manufacturing output increased by 5.4 % last year compared to 2024, and the industrial sector projects 12.7 % growth by 2026.”
Furthermore, production in the country increased by 6.8 % in the first quarter; 0.1 % in the second; 5.2 % in the third; and 9.5 % in the fourth quarter of last year.
Tito López, president of Conindustria, indicated that the figures obtained so far demonstrate that Venezuelan industry remains strong, “investing, producing, and generating employment.”
Regarding the investment needed to revitalize the country’s industry, López stated that $3.4 billion is required.
M.Pino
Source: notitarde
(Reference image source: Fatemeh Rezvani on Unsplash)
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