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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]
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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 ...
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.
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States of emergency of Venezuela are sometimes declared. They were declared once in 2015 due to the 2015 Colombia–Venezuela migrant crisis , and again in May 2016 by the president Nicolás Maduro who suggested that there had been a plot to overthrow the Venezuelan government.
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 ...
CARACAS (Reuters) -Venezuela's capital city Caracas and other regions of the country experienced a power outage early on Friday, the communication and information ministry confirmed. "We have been ...