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LatinNews Daily - 11 December 2020

In brief: Pandemic controls hit businesses hard in Venezuela

* Ricardo Cusanno, the president of Venezuela’s main chamber of commerce Fedecámaras, has warned that only around 250,000 companies are currently operational in Venezuela, down 60% since the onset of the coronavirus (Covid-19) pandemic. Cusanno further noted that businesses which are still operational are functioning, on average, at just 30% capacity. Venezuela has maintained strict controls on economic activities for many months now, in order to contain the spread of Covid-19, but there has been limited information made available on the economic impact of this lockdown. Cusanno reported that some sectors are still almost entirely shut down, such as the construction sector, which is working at just 3% capacity – “nothing is being built”, he said.

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