Power deficit to prompt slowdown in Venezuela

After two years mired in recession, Venezuelan economy has been favored by soaring oil prices and has started to grow. However, structural problems and deterioration of the power generation system may lead to a moderate, slow recovery. Minister of Electric Power Alí Rodríguez Araque acknowledged last week that electricity demand has increased. He attributed the increase both to economic growth -which government sources have estimated at 4 percent- and increased use of air conditioning as a result of rising temperature. However, supply is not enough to meet growing demand. Read Article