Special powers given to the president will potentially increase the imports


After signing the enabling act, the president promised to keep prices down and conduct a "ground-shaking" anti-corruption offensive. The President said that the specials powers are necessary in order to fight the economic crisis described by the government as the “economic war”. Venezuela is facing shortages of food and other essential goods, as well to decrease the inflation rate.
After the powers were given to the president, he informed that the government will create the national foreign trade center with the main purpose of control the exchange policy as well to centralize the importing activity with the government.
It´s likely that within the next months, public organisms and companies will proceed to carry out massive imports mainly of electronic products as well as food products in bulk that according to president Maduro, will be given to the final consumers with the “fair prices”.
Theoretically, this could represent a massive increase of imports to Venezuela which could increase the port congestion that have kept vessels waiting for piers availability for around 20 days recently depending on the port.
Carlos Carrasco
Operations Manager
Venepandi, C.A.

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