Almost 100% of Venezuelan companies have stopped or reduced production

Queue for the purchase of gasoline in San Cristobal, Venezuela

A survey commissioned by the industrial union and presented on Tuesday (11) points out that 96% of Venezuelan companies paralyzed or decreased their production in the first quarter of 2019, due to blackouts, gasoline shortages and credit restrictions. Of the companies surveyed, "96% did not produce or decrease their production," said Juan Pablo Olalquiaga, president of the Confederation of Venezuelan Industrialists (CONINDUSTRIA), in presenting the study to the press.

The situation is even more critical, considering that around 80% of the country's companies have closed since the rise of Chavism to power two decades ago, Olalquiaga said.

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