The business sector expects between 6% and 7% of economic growth if the country continues its initial drive of 2004, said Albis Muñoz, President of the Federation of Chambers of Commerce (Fedecámaras). She pointed out that with this recovery, the country would reach the levels attained in the early 90’s and in the 70’s, when there was a real drive for economic growth.

She stated that “Venezuela has gone through almost three decades of lack of investments” and that the current stability and the signs of confidence in the markets are indications, as clear as can be, that the situation is proper for national and foreign investment. Muñoz commented that political stability in Venezuela, following the recall referendum against president Chávez, may benefit the economy.

She also admitted that the recovery of the economic sectors that are not related to the oil business has been greater than expected, especially in the commercial sector. As for price policies, she said that it would be ideal to eliminate price controls and to allow free competition. She explained that the industrial and the production sector require price adjustments in order to guarantee the supply of goods and services.

Published in Quantum N.40