2023-11-28 21:44:17
Caracas, Nov 28 (EFE).- The Venezuelan trade sector requested this Tuesday the reactivation of bank credit to improve consumption, as one of the “urgent” measures that, in its opinion, must be implemented for the economic growth of the non-oil areas.
The National Council of Commerce and Services (Consecomercio) assured that a “modern economy will not grow sustainably” without bank credit, which “finances productive investment and consumption,” according to a statement.
“Bank intermediation and credit are essential to increase and facilitate all commercial transactions,” said the union organization, which calls for the reactivation “especially for consumption.”
Economists and businessmen assure that the current level of financing is very small compared to what the economy requires.
The Ecoanalitica firm calculates that the minimum financing needs for the private sector, including small and medium-sized businesses and entrepreneurs, is on the order of 6,000 million dollars, when in March – the latest balance available – the loan portfolio closed at 878, 69 million dollars, at the exchange rate at that time, according to official figures.
Consecomercio also asks, among the measures it considers necessary to take, to promote “campaigns to bring all the country’s economic activities to formality” and establish a “national tax plan”, in which “the entire legal framework that generates irrationality in tributes”.
Likewise, it considers it necessary that the size of the State, which “was developed supported by an oil income that no longer exists”, be “adapted to the current size” of the economy, which was reduced by 80% between 2013 and 2021, according to calculations margin of the Central Bank of Venezuela (BCV).
The union organization also proposed “restoring the autonomy” of the BCV, because “a Central Bank that is complacent with the government in power does not bring benefits to any sector of the population.”
The Venezuelan Government, which blames the crisis on international sanctions, assures that the national economy increased by 15% in 2022, and foresees an increase of 5% for this year compared to the previous one. EFE
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