CARACAS, Monday January 21, 2013 | Update
PUBLIC FINANCE | According to former finance minister

Deputy forecasts forex rate adjustment in Venezuela

Economic reforms are expected this year, and ministers will gradually announce them

Monday January 21, 2013  03:04 PM
Speaker of the Latin American Parliament Rodrigo Cabezas informed that some economic adjustments are to be implemented in 2013 in Venezuela. The actions will be announced gradually by the relevant ministers.

Adjustments may include changes in the price of some goods and services, and the foreign exchange rate, as well as some fiscal reforms and steps to curb speculation.

The former finance minister pointed out that "the main goal is to preserve economic growth as it is vital for economic policy-making."

The deputy also suggested that devaluation should be used as a tool to improve the competitiveness of the Venezuelan economy in the international arena through industrialization.

Translated by Jhean Cabrera
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