- PABLO ESCALONA
15 de marzo de 2017 12:28 PM
Actualizado el 16 de marzo de 2017 10:16 AM
Preliminary import data for January shows that imports from 12 trading partners fell by 21.6% year-on-year and 14.9% month-on-month to its lowest level, Torino Capital financial firm reported on Tuesday.
As reasoned by the experts, the data suggest that the Central Bank of Venezuela (BCV) has been unable to keep up the same rate of liquidation of foreign exchange as last year, despite higher oil prices.
They specify that from January 10 to March 9, the Central Bank received USD 1,154mn in inflows to reserves – almost all directly from PDVSA – a number somewhat higher than last year’s USD 890mn by the same date.
Likewise, they point out that despite the continued deficit in imports, there is somewhat consistency with some macroeconomic stabilization.
The reason, among others, for such stability “is likely to be found in the still restrained pace of government spending, whose nominal increases have been more than offset by price inflation, leading to significant real spending contractions.”