CALDEIRÃO DE BOLSA

Venezuela

* Rank: 144





Venezuela's economy is 47.7 percent free, according to our 2007 assessment, which makes it the world's 144th freest economy. Its overall score is 2.6 percentage points higher than last year, partially reflecting new methodological detail. Venezuela is ranked 28th out of 29 countries in the Americas, and its overall score is much lower than the regional average.

Venezuela scores fairly well only in fiscal freedom. The top income and corporate taxes are relatively high, but overall tax revenue is relatively low as a percentage of GDP.

As a staunchly socialist nation, Venezuela is weak in labor freedom, financial freedom, investment freedom, monetary freedom, freedom from government, property rights, and freedom from corruption. The commercial regulatory process is burdensome and confusing. The judiciary is heavily influenced by the government and does not enforce contracts well. The labor market is rigid, and the financial market, though sophisticated, has become more vulnerable to political interference. Corruption pervades the civil service and, along with the likelihood of expropriation, helps to deter foreign investment. Inflation is extremely high, and the government has the power to set prices.

Background:
Since his initial election in 1998, President Hugo Chávez has engaged in a military buildup, adopted draconian libel laws to constrain the media, hobbled opponents through electoral manipulation, imposed foreign exchange controls on the private sector, and politicized the state oil industry, which dominates the economy. Manufacturing and agricultural products like cocoa and coffee comprise a small share of GDP. Although Chávez promised to help the poor, Venezuela's National Statistics Institute has calculated that poverty rose from 43.9 percent to 55.1 percent from 1998 to 2003.


* Regional Rank: 28 of 29





Quick Facts

* Population: 26.1 million

* GDP (PPP): $157.9 billion
17.9% growth in 2004
1.2% 5-yr. comp. ann. growth
$6,043 per capita

* Unemployment: 15.1%

* Inflation (CPI): 21.8%

* FDI (net inflow): $1.9 billion

* Official Development Assistance: $34 million (26% from the U.S.)

* Exports: $39.8 billion
Primarily crude oil, marine products, rice, coffee, rubber, tea, garments, shoes

* Imports: $22 billion
Primarily machinery and equipment, petroleum products, fertilizer, steel products, raw cotton, grain, cement, motorcycles






Business Freedom - 48.8%
Starting a business takes an average of 141 days, compared to the world average of 48 days. To maximize entrepreneurship and job creation, it should be easier to start a company. Obtaining a business license can be difficult, and closing a business is very difficult. Complicated regulations are sometimes inconsistent, causing unreliability of interpretation. The overall freedom to start, operate, and close a business is seriously restricted by the national regulatory environment.

Trade Freedom - 56.2%
Venezuela's weighted average tariff rate was 11.9 percent in 2004. Discriminatory import licensing requirements, import bans and restrictions, mismanagement of tariff rate quotas, currency controls, non-transparent and burdensome standards and labeling regulations, export subsidies, service market access barriers, weak enforcement of intellectual property rights, and inefficient customs implementation add to the cost of trade. Consequently, an additional 20 percent is deducted from Venezuela's trade freedom score to account for these non-tariff barriers.

Fiscal Freedom - 83.7%
Venezuela has burdensome tax rates. Both the top income tax rate and the top corporate tax rate are 34 percent. Other taxes include a value-added tax (VAT) and a property tax. In the most recent year, overall tax revenue as a percentage of GDP was 11.5 percent.

Freedom from Government - 69.5%
Total government expenditures in Venezuela, including consumption and transfer payments, are moderate. In the most recent year, government spending equaled 26.7 percent of GDP, and the government received 41.6 percent of its revenues from state-owned enterprises and government ownership of property.

Monetary Freedom - 57.6%
Inflation in Venezuela is high, averaging 18.7 percent between 2003 and 2005. Relatively high and unstable prices explain most of the monetary freedom score. The government has the authority to control most prices through extensive regulation, subsidies, and numerous state-owned enterprises and utilities and protects agricultural producers through a non-legislated system of guaranteed minimum prices. Consequently, an additional 15 percent is deducted from Venezuela's monetary freedom score to account for these policies.

Investment Freedom - 20.0%
The government restricts certain types of investment and requires that certain professions be licensed in Venezuela. Foreign equity participation in media companies is limited to 20 percent, and the number of foreign workers that foreign companies may hire is limited. The government controls key sectors of the economy, including oil, petrochemicals, and much of the mining and aluminum industries. Expropriation is likely. The government controls foreign exchange and fixes the exchange rate. Special regulations exist for a range of transactions including foreign investment, remittances, foreign private debt, imports, exports, insurance and reinsurance, and the airline industry.

Financial Freedom - 40.0%
Venezuela's financial system is relatively well developed but subject to growing government influence. As of November 2005, there were 51 financial institutions (43 private and eight state-owned). Foreign banks may acquire existing banks, create a new wholly owned foreign bank, or establish a branch; and they accounted for over 30 percent of loans as of March 2005. The government created a new bank in 2005 to centralize public-sector resources, now largely held in private institutions, and act as its financial agent. The government increasingly directs financial institutions to provide credit in accordance with its requirements, and even the central bank is subject to government influence. Maximum and minimum levels for lending and deposit interest rates were established in 2005. There were 50 insurance companies as of April 2005, and the top two insurers were foreign-owned. Capital markets are relatively small. Foreign companies may participate legally in capital markets and may buy shares in Venezuelan companies, either directly or on the stock exchange.

Property Rights - 30.0%
Property rights are weakly protected. The judiciary is influenced by the executive, and the government routinely backs off from "inconvenient" contracts, particularly in the oil sector.

Freedom from Corruption - 23.0%
Corruption is perceived as widespread. Venezuela ranks 130th out of 158 countries in Transparency International's Corruption Perceptions Index for 2005.

Labor Freedom - 48.0%The labor market operates under highly inflexible employment regulations that hinder overall productivity growth. The non-salary cost of employing a worker is moderate, but dismissing a redundant employee is costly. Regulations related to increasing or contracting the number of work hours are rigid.

http://www.heritage.org/research/featur ... =Venezuela

JAS Escreveu:Para teres uma ideia do que isso significa posse-te dizer que uns amigos meus que já lá vivem há mais de 30 anos pagam agora mais de 1 milhão por mês à mulher a dias.
A mulher a dias ainda é a mesma e, em dollares, actualmente ganha menos do que ganhava em 1980...

JOGO2006MARKITOS Escreveu:Naquele mapa que tinham mostrado neste forum, tenho a ideia que a Venezuela vinha com quase 160% de crescimento no índice da bolsa. Portanto uma correcção de 15% até nem é assim uma desgraça completa, fica-se a 145%(!).

francan escreveu:
A grande questão da América Latina é que o capitalismo (também o socialismo) não resolveu os seus grandes problemas sociais, antes os agravou, por isso o populismo triunfa!


Chile ?

rnbc Escreveu:Não esquecer, por exemplo, que o Hitler foi eleito com uma ampla maioria

amsf Escreveu:JAS disse:

"quem mais tinha a perder com uma guerra civil na Venezuela eram os EUA pela simples razão de que a 90% da produção de Petróleo da Venezuela é vendida aos EUA."

Lembro-lhe que a invasão do Iraque foi iniciada em Março de 2003 pelo que em Abril de 2002 (Golpe contra Chavez) não imaginavam que o petróleo iraquiano lhes daria tantos problemas...essa percentagem "parece" estar incorrecta...90%

Financial Times Escreveu:Venezuelan debt in JPMorgan’s emerging markets bond index was around seven basis points wider on Monday night, while credit insurance on Venezuela’s risk of a default widened to 149 from 139 basis points in the credit derivatives market.

Tighter government control over Cantv is also likely to have repercussions for Venezuela’s hitherto tolerated black market in foreign exchange, which uses Cantv ADRs as a mechanism to allow investors to buy dollars.

In Caracas, the dollar was on Monday night quoted at 3,600 Bolívars, brokers said, up about 10 per cent from the close of last week, and leaving it at a premium of 67 per cent over the official exchange rate of 2,150 Bolívars to the dollar.

amsf Escreveu:Ouvi dizer que comem crianças ao pequeno almoço..

francan Escreveu:A grande questão da América Latina é que o capitalismo (também o socialismo) não resolveu os seus grandes problemas sociais, antes os agravou, por isso o populismo triunfa!

francan Escreveu:A grande questão da América Latina é que o capitalismo (também o socialismo) não resolveu os seus grandes problemas sociais, antes os agravou, por isso o populismo triunfa!