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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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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.
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 ...
MARACAIBO (Reuters) -At least 21 people including workers, neighbors and firefighters were injured on Tuesday in a fire at a crude storage tank in Venezuela's La Salina oil terminal, operated by ...
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 ...
Another fire is ablaze in Southern California, igniting Thursday near San Diego, continuing weeks of blazes in Southern California.. The Border 2 Fire was discovered around 2:30 p.m. PT in the ...
6 January – Venezuela breaks off diplomatic relations with Paraguay after the latter's president Santiago Peña recognizes Edmundo González Urrutia as president-elect of Venezuela. [ 3 ] 9 January – Opposition leader María Corina Machado is arrested by government security forces after leaving a rally in Caracas .