| General Interests and Trends | |
It’s no secret that Venezuela is awash in oil revenues and public spending. Yet, out of the limelight of high gas prices and Chavista politics, the private sector silently grew faster than any Latin American economy at 8.2% last year. Even with a slight contraction in the oil sector, the overall economy expanded 8.4% and private consumption saw a 19% increase. Growth on this scale represents a tremendous opportunity for companies that have remained in Venezuela despite the inherent risk, or captured their spending abroad. Affluent Venezuelans, whether they have ties to the government or the private sector, are once again finding creative ways to spend and shelter their growing wealth in uncertain conditions.
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Kroll commissioned the Economist Intelligence Unit to conduct a worldwide survey on fraud and its effect on business in 2009/2010.
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