*Venezuela’s main business lobby, Fedecámaras, has halved the growth forecast for the private sector that it issued at the start of the year. Fedecámaras is now expecting the private sector to grow by 4.2% in 2024, down from the 8% growth forecast that it announced in the first quarter of the year. A Fedecámaras statement noted that in the first half of 2024, “bank financing, the political situation, legal insecurity, and failures in public services continued to limit business dynamism”. However, it did highlight quarterly growth in Q2 for manufacturing (+13.2%), communications and other services (+6%), retail (+2.4%), and agriculture (+1.8%).
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LatinNews Daily - 19 September 2024
In brief: Venezuelan business lobby slashes private sector growth forecast
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