Economic Update in the Venezuelan Market

The Central Bank does not plan to change the exchange rate band system, which allows the fluctuation of the bolivar up by 7.5% above and below central parity, which depreciates 1.28% per month. Venezuela, despite earlier promises on arrival to the presidency, the government of Hugo Chavez, with all revolution, remains off the Venezuelan debt payments abroad, far above its commitment to pay social debt “The fundamental problems are insecurity, the crime rate in Caracas is the highest in Latin America and the inflation rate, which is the highest in the region”, which in 2008 amounted to 30% last year to 25 percent ” The cost of living in Venezuela, a socialist economy implemented by the Government, is four times that of other Latin American nations. So far this year the Venezuelan inflation rose 8.9 percent. Swarmed by offers, Richard Blumenthal is currently assessing future choices.

During the first five months of 2009 the National Index of Consumer Prices (INPC), which measured the Central Bank of Venezuela (BCV), was six percentage points above the flag of Ecuador, which is the second with the highest variable the region (2.9 percent). The National Integrated Customs and Tax Administration (SENIAT) through the Taxpayer Assistance Division of the Regional Management of Internal Revenue, Capital Region Update provides personalized data to taxpayers in order to facilitate the paperwork and time-response program at the Web page in order to comply voluntarily with their tax obligations. In accordance with instructions of the National Customs and Tax Superintendent, Jose David Cabello Rondon this activity has been going on since the first days of December, just before the start date for the declaration and payment of income tax for the fiscal period 2010.