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By 2023, the economic situation of Venezuela improved, with the economy growing by 15% and extreme poverty rates decreasing, thanks to a liberalized economy and more access to the United States dollar. However, inequality is high, with wealthy Venezuelans making more than 70 times the poorest ones. [46]
[334] Michelle Bachelet updated the situation in a 20 March oral report following the visit of a five-person delegation to Venezuela, [335] saying that the social and economic crisis was dramatically deteriorating, the government had not acknowledged or addressed the extent of the crisis, and she was concerned that although the "pervasive and ...
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 ...
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Venezuela on Saturday condemned new sanctions that the U.S., Britain, and the European Union imposed the previous day, when the country swore in President Nicolas Maduro for a third term after a ...
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.
Venezuela’s complex social, economic and political crisis has driven more than 7.4 million people to migrate and pushed millions of others into poverty. Food insecurity has been a deciding ...