Post by UKIPA Holdings, LLC on Jan 10, 2015 19:55:59 GMT 4
Venezuela: Summary of announcements on Economics
Details on the new exchange system would be disclosed after "the end of the year." So far, the precise date for announcements is unknown
EL UNIVERSAL
Saturday January 10, 2015 12:00 AM
Ending 2014, Venezuelan President Nicolás Maduro declared that details on the new exchange system would be disclosed after "the end of the year." So far, the precise date for announcements is unknown.
-During a press conference held back on December 30 at Miraflores presidential palace (Caracas), Venezuelan President Nicolás Maduro disclosed part of his "Economic Recovery Program." The plan, he spelled out, will have three stages of six months, two years and four years, respectively. Some of the objectives of the program include injection of funds in productive sectors, increased social investment, securing resources for the real economy (reference was made to the distribution of foreign exchange and changes in the National Center for Foreign Trade - Cencoex), adjustment of policies against smuggling and hoarding, establishment of a productive alliance based on the Homeland Plan, as well as the creation of special economic zones and a new model of wealth creation.
-Maduro also said that after the end of the year, Minister of Economy, Finance and Public Banking, Marcos Torres, and the president of the Central Bank of Venezuela, Nelson Merentes, would announce changes to the new exchange system.
-The Venezuelan President reported that the "High Command for Economic Recovery" would be launched on January 3. The body will be presided by Maduro and will include the Chief of Staff, Rodolfo Marcos Torres; the Agri-food Production Unit, headed by Juan Carlos Osorio; the Unit for Foreign Trade and Alliance, led by Giuseppe Yoffreda; the Economic Information Unit, headed by Jesse Chacón; the Unit for Social and Community Alternative Economy, led by Elías Jaua; the Industrial Production Unit, headed by Diosdado Cabello; the Oil Unit, headed by Asdrúbal Chávez; the Unit for Special Economic Zones, led by Ricardo Menéndez; the Unit for Unification and Streamlining of Procedures, headed by Dante Rivas, and the Special Unit for Development of the Mining Corporation of Venezuela, whose leader is yet to be appointed.
-Official Gazette No 40,571, dated December 30, 2014, established that the Exchange Agreement No. 32 would be issued in the special edition of the Official Gazette No 6,167. No further details were provided.
-Maduro also underscored that tax reforms will be deepened in 2015.
-He announced the setup of a strategic fund in bolivars for USD 63 billion. Further, the reserve fund in dollars will be strengthened.
-Moreover, Maduro appointed back on January 4 a new board of directors for the National Center of Foreign Trade (Cencoex), designating economist Rocco Albisinni (Bank of the Treasury), and attorney Fany Beatriz Márquez Cordero (Integrated Customs and Tax Administration Service, Seniat) as its chair and deputy chair, respectively.
-He created the National Center for Food Balance (Cenbal) and the Supply Monitoring Comprehensive System (Sica).
-He announced the reactivation of 71 toll booths across the country to be administered by state governments.
-Before travelling to China, President Nicolás Maduro stressed on a national TV broadcast that the "new exchange system focuses on production." He did not specify the day and time of the official announcement.
Source of Article:
english.eluniversal.com/economia/150110/venezuela-summary-of-announcements-on-economics
Details on the new exchange system would be disclosed after "the end of the year." So far, the precise date for announcements is unknown
EL UNIVERSAL
Saturday January 10, 2015 12:00 AM
Ending 2014, Venezuelan President Nicolás Maduro declared that details on the new exchange system would be disclosed after "the end of the year." So far, the precise date for announcements is unknown.
-During a press conference held back on December 30 at Miraflores presidential palace (Caracas), Venezuelan President Nicolás Maduro disclosed part of his "Economic Recovery Program." The plan, he spelled out, will have three stages of six months, two years and four years, respectively. Some of the objectives of the program include injection of funds in productive sectors, increased social investment, securing resources for the real economy (reference was made to the distribution of foreign exchange and changes in the National Center for Foreign Trade - Cencoex), adjustment of policies against smuggling and hoarding, establishment of a productive alliance based on the Homeland Plan, as well as the creation of special economic zones and a new model of wealth creation.
-Maduro also said that after the end of the year, Minister of Economy, Finance and Public Banking, Marcos Torres, and the president of the Central Bank of Venezuela, Nelson Merentes, would announce changes to the new exchange system.
-The Venezuelan President reported that the "High Command for Economic Recovery" would be launched on January 3. The body will be presided by Maduro and will include the Chief of Staff, Rodolfo Marcos Torres; the Agri-food Production Unit, headed by Juan Carlos Osorio; the Unit for Foreign Trade and Alliance, led by Giuseppe Yoffreda; the Economic Information Unit, headed by Jesse Chacón; the Unit for Social and Community Alternative Economy, led by Elías Jaua; the Industrial Production Unit, headed by Diosdado Cabello; the Oil Unit, headed by Asdrúbal Chávez; the Unit for Special Economic Zones, led by Ricardo Menéndez; the Unit for Unification and Streamlining of Procedures, headed by Dante Rivas, and the Special Unit for Development of the Mining Corporation of Venezuela, whose leader is yet to be appointed.
-Official Gazette No 40,571, dated December 30, 2014, established that the Exchange Agreement No. 32 would be issued in the special edition of the Official Gazette No 6,167. No further details were provided.
-Maduro also underscored that tax reforms will be deepened in 2015.
-He announced the setup of a strategic fund in bolivars for USD 63 billion. Further, the reserve fund in dollars will be strengthened.
-Moreover, Maduro appointed back on January 4 a new board of directors for the National Center of Foreign Trade (Cencoex), designating economist Rocco Albisinni (Bank of the Treasury), and attorney Fany Beatriz Márquez Cordero (Integrated Customs and Tax Administration Service, Seniat) as its chair and deputy chair, respectively.
-He created the National Center for Food Balance (Cenbal) and the Supply Monitoring Comprehensive System (Sica).
-He announced the reactivation of 71 toll booths across the country to be administered by state governments.
-Before travelling to China, President Nicolás Maduro stressed on a national TV broadcast that the "new exchange system focuses on production." He did not specify the day and time of the official announcement.
Source of Article:
english.eluniversal.com/economia/150110/venezuela-summary-of-announcements-on-economics