ESPACIO PUBLICITARIO
CARACAS, Thursday September 12, 2013 | Update
 
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Shortage likely to escalate in Venezuela amid drought of US dollars

The Venezuelan Confederation of Industries said the alarms have already set off in some sectors

Agribusiness is among the sectors lashed by the situation (File Photo)
ROBERTO DENIZ |  EL UNIVERSAL
Thursday September 12, 2013  01:29 PM
The Central Bank of Venezuela reported this week shortage in August hit 20%. The figure implies not only a rise in the level of shortage with respect to July, but also persistence if the flow of foreign currency does not improve and import licenses are not granted timely, the Venezuelan Confederation of Industries (Conindustria) has informed.

"If delays in the delivery of authorizations, certificates, licenses, and foreign currency continue, shortage will exacerbate in the country in the next weeks, just when consumption reaches its highest point in the year," the confederation noted in a press release.

Conindustria informed that today the Foreign Exchange Administration Commission (Cadivi) takes nearly 180 days to authorize sales of US dollars to enterprises. The confederation also reported delays in different ministries on the issue of Certificates of Non-Production (CNP), a prior requisite to apply for US dollar through Cadivi.

Conindustria said the alarms have already gone off in some sectors, including the agro-industry.

rdeniz@eluniversal.com
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