Venezuela Gov’t Doubles Down on Policies Blamed for ‘Economic Disaster’

Venezuela Gov’t Doubles Down on Policies Blamed for ‘Economic Disaster’:
"Mexico City (CNSNews.com) – The administration of Venezuela’s socialist President Nicolas Maduro is doubling down on policies blamed by some for the country’s massive recession and widespread shortages of food and medicines, according to a Caracas business leader.
“The government has become more radical,” Victor Maldonado, executive director of the Chamber of Commerce, Industry and Services told CNSNews.com by phone from Caracas.
Ministers who “were talking about allowing for more freedom in the economy” have been recently fired, he noted.
“If the current government maintains its economic policies, Venezuela will not exit its current crisis and the problems will only become greater,” Maldonado.
According to the IMF, Venezuela’s economy is expected to shrink by 8 percent this year, with inflation ballooning to 700 percent.
In a dismal 2016 economic outlook for the country, the IMF cited “widespread price and other administrative controls and regulations” and a “worsening business climate...”