- The devaluation will boost the cost of
- health services In 2010 the cost of hospital services, which basically include surgical operations, increased 27%
Victor Salmeron @ vsalmeron The acceleration in price increases do not affect equally all layers of society. Central Bank statistics record that between 2008 and 2010 the poorest stratum has suffered an inflation of 64% while the wealthiest suffer an onslaught of 60%.
The food absorbs 45% of the wages of poorer families and this is the category where the advance in prices is felt more strongly, this explains why inflation hits mainly the lower income strata.
Only in the last twelve months the price of agricultural products has accumulated a 55.1% jump in an environment away from the expropriation of property investment and the government has been forced to allow adjustments in regulated prices to avoid a more pronounced increase in the shortage.
Everything indicates that in 2011 food will absorb a major portion of family income.
Hugo Chávez administration devalued the currency and the exchange rate for imports of basic foods and medicines increased 65% from 2.6 per dollar to 4.30 per dollar.
The result is that in the coming months will come further adjustments in administered prices, to which is added to the global cost of wheat, Rice and corn are at the highest point since 2008.
The devaluation also increases the cost of imports of medicines and therapeutic devices in the last twelve months and accumulated a 17.8% increase.
According to data from the pharmaceutical sector, about two thousand drugs, ie 30% of the portfolio of local market, are regulated by the authorities. To a large extent, these medications the World Health Organization (WHO) describes as "essential."
The predictable is that exchange rate adjustment also impacts the cost of hospital services include surgical operations basically and in 2010 and increased 27%.
Overall the price increase has far exceeded improvements in wages and private consumption growth essential part of the economy accumulates two years in decline.
Looking at the expense of businesses and people in the country, which technically economists call aggregate demand, 58.8% for the consumption and investment rest.
Thus, the weakness of private consumption, which shows a decrease of 5.9% over the past two years, weakens the possibility that the economy afloat out and leave behind the recession.
Willing to credit control consumption, regarded as superfluous, the government pushed the reform of the Banking Act limits funding cards, essential nut on the engine of economic growth and on the family budget.
consulted Bankers explain that the use of credit cards is not only associated with the purchase of clothing, shoes and other products that the Government can be categorized as non-core in their crusade for what he calls the "necessary consumption."
The middle class also uses credit cards to raise money actually available at the end of each half and remove foods, medicines, clinics and even the cost of private schools. In
According to data from the Superintendency of Banks two private financial institutions are already above the limit for financing with credit cards and another group is near the ceiling.
The law provides 180 days to comply and if not definitely rule is relaxed banks will have to choose between a range of delivery options that include fewer new cards and review of the available space for each client.
Facts:
- The middle class private hospital services used by the deficiencies in the public hospital network.
- The rising cost of medicines and operations adds that qurúrgicas medical and dental visits increased 33.6% in 2010 and rising insurance premiums.
- Private consumption to GDP stood at 61.29% in 2005.
- The Central Bank data from Venezuela suggest that in the first nine months of this year represented 71.90% of GDP.
THE UNIVERSAL
Read the same author, in El Universal: The plan strengthened socialist rentier nature of the economy
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