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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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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]
Venezuela's economy faltered while poverty, [59] [70] inflation [71] and shortages in Venezuela increased. According to Martinez Lázaro, professor of economics at the IE Business School in Madrid, the economic woes Venezuela continued to suffer under Maduro would have occurred even if Chávez were still in power. [72]
Topography of Venezuela. Agriculture in Venezuela has a much smaller share of the economy than in any other Latin American country. After the discovery of oil in Venezuela in the early 20th century to the 1940s, agriculture has declined rapidly, and with the beginning of large-scale industrial development in the 1940s, agriculture and land reform was largely neglected by successive governments ...
China and Venezuela signed several bilateral cooperation documents focused on various areas including economy, trade and tourism, China's state broadcaster China Central Television (CCTV) said on ...
Venezuela's economy is highly dependent on oil production and exportation. [2] Venezuela is a member of the Organization of Petroleum Exporting Countries. Its economy is prone to disruption given that price of oil fluctuates rapidly. In 2014, oil prices dropped. Since then Venezuela has had to adapt to a significant decrease in state revenue.
Venezuela's opposition wants to call a referendum on President Nicolás Maduro's term. ... News. 24/7 help. For premium support please call: 800-290-4726 more ways to reach us. Login / Join.