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This article needs to be updated. Please help update this article to reflect recent events or newly available information. (April 2023) Economy of Venezuela Plaza Venezuela in Caracas Currency Bolívar Digital (VES) Fiscal year Calendar year Trade organizations WTO, OPEC, Unasur, ALBA Statistics Population 28,301,696 (2022) GDP $102.328 billion (nominal, 2024 est.) $224.526 billion (PPP, 2024 ...
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In its World Economic Outlook report, the IMF has provided inflation rate estimates between 1998 and 2019. In 2018, the annual inflation rate reached 929,790% and was expected to reach 10,000,000% by the end of 2019. [47] According to the October 2019 World Economic Outlook report, Venezuela's inflation rate of 500,000 is the highest in the world.
Venezuela's economy grew more than 5% in 2023 and growth will reach 8% this year, President Nicolas Maduro said on Monday during his annual address to the government-allied legislature. Venezuela ...
Obama issued a presidential order on 9 March 2015 declaring Venezuela a "threat to [U.S.] national security", and ordered the Treasury Department to freeze property and assets of seven Venezuelan officials [21] [22] it held responsible for human rights abuses, repression and at least 43 deaths during demonstrations. [23]
Preliminary data compiled by Venezuela's central bank shows the economy shrank by 16.6 percent in 2017 compared with the year before, two sources familiar with the matter said on Thursday, the ...
Maduro was criticized for concentrating on public opinion, instead of tending to practical issues which economists had warned about, or creating ideas to improve Venezuela's economic prospects. [79] By 2014, Venezuela had entered an economic recession [80] and by 2016, the country had an inflation rate of 800%, the highest in its history. [81] [82]
In 2014 The Central Bank of Venezuela stopped releasing statistics for the first time in its history as a way to possibly manipulate the image of the economy. [199] Venezuela has also dismantled CADIVI, a government body in charge of currency exchange. [121] In May 2019, the Central Bank of Venezuela released economic data for the first time ...