#franciscomartinez

Francisco Martinez, President of Fedecámaras, has widely criticized the economic policy of Maduro’s government. Primarily Martinez recalled that the 50% increase in the minimum wage is a problem for small and medium sized companies which are not able to absorb the cost and risk of closure, also the criminalization of private property that the government continues to do prevents the formation of efficient private companies that increase production rates of the country. The low rate of production generates a general poverty that forces the government to increase more and more often the minimum wage, creating an inflation process that devalues the currency. Finally Martinez has also lashed out at CLAP because the country to grow should not subsidize the ‘public industry but the private one.