The president of the National Council of Commerce and Services (Consecomercio), Gustavo Valeillos, indicated that the organization predicts 40 % inflation in Venezuela by the end of this year.

Valecillos stressed “the commitment of the business sector” in terms of its contribution in terms of “public policies that stimulate productivity to ensure that Venezuelans can cover their needs.”

According to Consecomercio estimates, the country could close 2024 with 60% inflation, unlike last year when hyperinflation was experienced and the closing was at 190 %.

For his part, José Gregorio Rodríguez, regional coordinator of Consecomercio, stated: “It is our responsibility to contribute to proposing public policies that stimulate productivity with the objective of ensuring that Venezuelans have a welfare state that allows them to cover their needs.”

The first vice president of Fedecámaras, Felipe Capozzolo, referred to the importance of cooperation between the public and private sectors and added that in order to strengthen the presence of more products, more companies and more entrepreneurs in the market, in addition to the need to “control the exchange rate differential in order to increase productivity.”

M.Pino

Source: talcualdigital

(Reference image source: Getty Images for Unsplash+)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Consecomercio predicts closing the year with 40 % inflation apareció primero en Bitfinance.

The president of the National Council of Commerce and Services (Consecomercio), Gustavo Valecillos, Venezuela will close this year with a growth of the sector between 2.5 % and 3 %.

Valecillos trusts in the ongoing efforts to reduce the exchange rate gap between the BCV dollar and the parallel market dollar, as a way to face its effects on the economy.

He emphasized Consecomercio’s effort to comply with the legal exchange rate of the BCV, “so that we cannot compete against an informal merchant, who does not pay any type of tax, neither national nor regional.”

Valecillos believes that the current inflationary process is a consequence of the gap between the official dollar and the parallel dollar, which boost the modification of the prices of goods and services.

He referred to the dynamics of the economy in the last quarter of the year, when public spending increases, there are more bolivars on the street and therefore the demand for foreign currency increases.

“We are prepared, and we have warned that the inventories were paid in foreign currency and if they want to replenish those inventories they must be collected in foreign currency, this has been difficult, but they maintain their dynamics and the expectations that the months of November and December will be the ones with the greatest operations for some seasonal sectors such as toys, clothing, footwear,” he explained.

In this sense, efforts are aimed at closing the year with a growth of 2.5 % or 3 %. Valecillos indicated that “the general economy, based on the studies they have received, should grow a little more, approximately 5, 6 or 7 %.”

M.Pino

Source: elimpulso

(Reference image source: Dennis Siqueira in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Consecomercio expects to close the year with growth between 2.5 % and 3 % apareció primero en Bitfinance.

The president of the National Council of Commerce and Services of Venezuela (Consecomercio), Gustavo Valecillos, highlighted the recent signing by the country of an agreement proposed by the World Trade Organization, which would help achieve the goal of simplifying trade in services.

According to Valecillos, the agreement “will benefit the logistics sector through the simplification, facilitation, standardization and harmonization of customs processes.”

He described Venezuela’s accession as an important and significant step. In addition, he referred to the upcoming “promulgation of the Non-Petroleum Export Promotion Law, which is currently being drafted, we are sure that the entire country will benefit.”

Venezuela has demonstrated, with the signing of the agreement, its firm purpose, through Consecomercio, to optimize the internal commercial and economic infrastructure, as well as implement the necessary policies for the development of international trade, in accordance with the proposals of the 53rd Assembly of Consecomercio in Puerto Cabello.

Benefits for the logistics sector in Venezuela

The signing of the agreement proposed by the World Trade Organization can generate benefits for “the growth and professionalization of the logistics sector to facilitate international trade,” according to Gretsy Marín, president of the Association of Freight and Customs Agents of Venezuela (Asocav).

He stressed that “investments must be encouraged in safe conditions, the development of logistics facilitation areas such as warehouses specialized in services to the export sector, improvement of infrastructure by land and in communications situations, satellite monitoring of all exports that leave To make.”

M.Pino

Source: globovision

(Reference image source: CHUTTERSNAP en Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Venezuela signs global agreement to simplify trade in services apareció primero en Bitfinance.

Gustavo Valecillos, president of the National Council of Commerce and Services, Consecomercio, presented this Tuesday a proposal for changes for the sector, within the framework of the celebration of the 44th edition of the National Day of Commerce and Services, held in the Plaza Real Hall of the Eurobuilding Hotel, in Caracas.

Before the members of the organization, Valecillos read the proposal that encompasses seven aspects to be addressed by the national government to boost the economy.

The document, which was also sent to the Vice Presidency of the Republic, the Ministry of Commerce and the Seniat, establishes:

• Transition to a market economy: To this end, Consecomercio proposes that the prices of goods and services be exempt from regulations and be defined by the law of supply and demand.
• Reduce inflation: By reducing the fiscal deficit, inflation can be lowered. This would require a reduction in public spending by the State and a rational increase in tax collection.
• Labor reform to recover the purchasing power of workers: In this regard, it is urgent to adapt the current Labor Law (Lottt) to current times. The generation of a “real and appropriate” income for workers must be prioritized, with an increase in national productivity. Likewise, mechanisms that generate jobs in the private sector are necessary.
• Change in fiscal policy: It must be based on the “expansion of the tax base and the elimination of unnecessary taxes: which allows expanding the national tax base and bringing formality to all economic activities in the country.” The organization proposes to review the legal framework of the tax sector; considering that the people “who should not contribute to the State are the people who live exclusively on pensions and retirements.”
• Reactivation of bank credit: Especially aimed at consumption, according to the agency, to help Venezuelans recover purchasing power, which has been reduced by low salaries.
• Adjust the size of the State to that of the economy: The size of the state does not match the size of the economy, which currently maintains unsustainable expenses. “This State must be adapted to what can be paid for with the real income of the treasury and the companies under the control of the State must be returned to the private sector, so that they go from being a burden to being a source of taxes,” the document states.
• Restore the autonomy of the Central Bank: The entity must recover its essence and its powers, free of political-partisan influences. The Central Bank of Venezuela must once again be an autonomous and independent entity, with a monetary policy aimed at economic stability without inflation; to provide benefits to workers, employers and the Government.

M.Pino

With information from national media and social networks

(Reference image source: Unsplash+, in collaboration with Getty Images)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Consecomercio proposes seven economic reforms in Venezuela apareció primero en Bitfinance.