Government Imports Soar In Venezuela

A great example of an efficient a centrally planned state economy.

The Devil's Excrement

Imports

Seeing the data above really opened my eyes at the problems with the allocation of foreign currency in Venezuela. The Government has gone from importing US$ 7.5 billion in 2006, to importing US$ 34 billion last year. Not only that, but Government imports, which used to be 25% of all imports have not only surpassed private imports, but have now become 57% of all imports.

Think about it, if you are a manufacturer or merchant you have to go through a few dozen steps before CADIVI authorizes your imports. But if you are a Government official who wants to import some widgets, you not only get the dollars right away, but you don’t go through CADIVI, you buy from whomever you want and you probably only need one or two signatures to buy the stuff. Imagine the chain of suppliers between that Government official and the stuff that is being…

View original post 310 more words

Advertisements

About danmillerinpanama

I was graduated from Yale University in 1963 with a B.A. in economics and from the University of Virginia School of law, where I was the notes editor of the Virginia Law Review in 1966. Following four years of active duty with the Army JAG Corps, with two tours in Korea, I entered private practice in Washington, D.C. specializing in communications law. I retired in 1996 to sail with my wife, Jeanie, on our sailboat Namaste to and in the Caribbean. In 2002, we settled in the Republic of Panama and live in a very rural area up in the mountains. I have contributed to Pajamas Media and Pajamas Tatler. In addition to my own blog, Dan Miller in Panama, I an an editor of Warsclerotic and contribute to China Daily Mail when I have something to write about North Korea.
This entry was posted in Uncategorized. Bookmark the permalink.

One Response to Government Imports Soar In Venezuela

  1. Brittius says:

    For a minute there, I thought the graph was Obamanomics. 😀

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s