Venezuela Food & Drink Report Q2 2013 - New Market Research Report
In Venezuela, the recent devaluation of the bolivar will weigh heavily on the import-dependent consumer, and we therefore forecast real private consumption growth to slow sharply from 7.0% in 2012 to 2.0% in 2013. Indeed, we are forecasting real GDP growth in Venezuela to halve in 2013, driven by a significant erosion in consumers' purchasing power due to the devaluation.
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