Fedecámaras describes commercial activity in the first quarter of the year as slow
The Federation of Chambers and Associations of Commerce and Production of Venezuela (Fedecámaras) reported that the first quarter of 2025 was slow and commercial activity was stagnant
The second vice president of Fedecámaras, Tiziana Polezel, stated last week that the commercial sector’s dynamics were minimal during the month of March. She noted that the first quarter was slow.
She cited the exchange rate differential as the main cause of this, adding that “movement is minimal, and this impacts the entire production chain.”
On the other hand, she highlighted the current problems facing the business sector, marked by “high tax rates that encourage informality and business closures.” As a result of high taxes that leave no room for profit, businesses are considering abandoning formality or closing.
Polesel also mentioned other reasons for this slow and stagnant context, such as deficiencies in the provision of basic public services, which lead to increased operating costs for businesses and companies, which are impossible to reflect in final products due to low demand.
The second vice president of Fedecámaras emphasized “the implementation of the Tax Harmonization Law, noting that most municipalities set their taxes at the maximum limit, without considering whether these rates are viable for taxpayers, generating unmanageable increases.”
M.Pino
Source: bancaynegocios
(Reference image source: Kleomenis Spyroglou on Unsplash)
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