Central Bank Country

Incredible but true, in these moments the country receives large currency input product to the rising prices of oil, which has more favored him in its history and appearance should be tapped depending on its development, improve the level of quality of life of Venezuelans, however, manifests a very negative aspect, as it is the inflation that the country facesin this respect the former director of the Central Bank of Venezuela, Domingo Maza Zavala, said that despite an accumulated inflation of 15 percent in the first half of this year, the Elimination of the tax on financial transactions has helped curb inflation, a little because if that tax had remained the inflation rate would have been much greater. He explained the causes of inflation that are not only punctual, but are structural in nature. While we have an infraproductiva economy, particularly in the sector of power and other articles of first necessity; and demand, naturally the inflation continues to grow in nominal terms, because earnings increase. Extremely positive aspect in his statement, especially in a country like Venezuela that left of being a producer agricultural matter many food products, causing them to capital flight, which could have been invested in the agricultural development of the country, if he had put much effort in its development Dr. Maza Zavala said and recalled the 30% increase announced by the Government to the military sector. It is a large contingent and I guess that it will include reservists, those are demands that are manifested in the market particularly in articles of greater consumption; and that puts pressure to increase prices.In his view, supply has not improved because almost everything that is offered in the Venezuelan market comes from imports. We are increasingly dependent on overseas and it is said that we have because we have supply which depends on the possibility of importing food security.