Boston, MA -- (SBWIRE) -- 02/19/2014 -- We expect economic growth to remain sluggish, characterised by a slowdown in private consumption, net exports, and investment.

President Nicolas Maduro has consolidated his power in recent months, bolstered by a strong PSUV performance in the December 8 elections, and will continue Chavez's policies of elevated social spending, resulting in sizeable fiscal deficits.

Inflation will remain elevated, at the highest level in Latin America, and the operating environment will remain very precarious for foreign multinationals in the country.

Major Forecast Changes

We have upgraded our Venezuelan fiscal deficit forecast for 2014, from 9.6% of GDP to 7.8%, due to reforms which will reduce some types of government spending.

T aking into account the most recent data made available by the Banco Central de Venezuela and our outlook for the oil sector, we have downwardly adjusted our current account surplus forecast for 2014, from 3.2% of GDP to 1.9%.

Key Risks To Outlook

Upside Risks: Higher than expected oil prices and more investorfriendly policies could see real GDP growth exceed our forecast.

View Full Report Details and Table of Contents

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Country Reports research reports at Fast Market Research

You may also be interested in these related reports:

- Oman and Yemen Business Forecast Report Q2 2014
- Kuwait Business Forecast Report Q2 2014
- Canada Business Forecast Report Q2 2014
- Chile Business Forecast Report Q2 2014
- Hong Kong Business Forecast Report Q2 2014
- Croatia Business Forecast Report Q2 2014
- Japan Business Forecast Report Q2 2014
- Hungary Business Forecast Report Q2 2014
- Botswana Business Forecast Report Q2 2014
- Brazil Business Forecast Report Q2 2014