You are here: Home » Reuters » News
Business Standard

Venezuela economy to shrink 7-10 percent this year - Fedecamaras

Reuters  |  CARACAS 

CARACAS (Reuters) - Venezuela's economy will contract between 7 and 10 percent this year, said the country's main business chamber Fedecamaras, on Wednesday at the Latin American Investment Summit in Caracas.

The organization said a recently installed Constituent Assembly was not a solution to the OPEC country's severe economic problems, adding it would deepen the crisis.

(Reporting by Deisy Buitrago.; Writing by Girish Gupta; Editing by Hugh Bronstein and Chris Reese)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 09 2017. 23:07 IST