Daniel

· 18 Jul 2022

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Venezuela Move from Economic Crisis to Growth

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the Venezuelan country has grown a lot in the last two years and the economic and social situation in Venezuela, however fragile it may seem, is showing signs of significant improvementSo much so, that last April, investment bank Credit Suisse made a shocking forecast: Venezuela's economy will grow by 20% this year and will be the one that faster to grow globally this year and next. Without going as far as Credit Suisse, other international organizations also forecast strong growth in the Venezuelan economy To understand the political, social and financial moments that have led Venezuela to the current situation, Afinogenova analyzes “a complex reality” in which the factors of growth are multiple. The journalist recently signed by Público takes a tour of what these last seven years have been in Venezuela, whose economy was greatly affected by the fall in the price of oil, by international sanctions against the country and by a political crisis triggered by Juan Guaidó when he unilaterally declared himself president in charge of the country.

In the last year and a half prices have risen and Venezuela has managed to increase its production. To this has been added that the lifting of some sanctions. The Venezuelan Government has also managed to control the striking hyperinflation and has, more or less, controlled inflation: Venezuela has gone from hyperinflation of 1,000% to having inflation below 100% and the best growth forecasts in Latin America for this year Proof of this is that they are starting to return to the country some Venezuelans who had abandoned it in the previous years. There is still a long way to go, says Afinogenova, but the signs are positive, as she explains in the video that heads this information.