A study by the Nicaraguan Foundation for Economic and Social Development (FUNIDES) shows that in 2010, when the economy was growing at 4.5 percent, the contribution of the relationship with Venezuela was 1.1 percentage point. In 2011, when growth was 4.7%, the Venezuelan contribution to the figure was 0.9%.

This means that 20% of Gross Domestic Product (GDP) over the last two years has been guaranteed by the cooperation of Venezuela, according to the report.

"This economic subjugation carries multiple risks. FUNIDES poses several scenarios for a possible partial reduction or complete cessation of the Venezuelan cooperation, which in 2011 was $564.1 million, according to the Central Bank of Nicaragua (BCN)," wrote Lucydalia Baca in Laprensa.com.ni.

"Besides the danger to the economy from the dependency being maintained with Venezuela, FUNIDES notes that futures markets projected a decline in the price of food that Nicaragua exports, so the growth of the economy in this period will be less than achieved in previous years."

Source: laprensa.com.ni

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