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Is Venezuela still suffering from hyperinflation?

Is Venezuela still suffering from hyperinflation?

On an annual basis, Venezuela ended 2021 with inflation at 686.4%. “Venezuela’s hyperinflation went as it came,” Ronald Balza, a professor of economics at Catholic University in Caracas, said Friday.

Is Venezuelan poor?

Since 2017, the share of households living under the poverty line in Venezuela has been surpassing 90 percent. In addition, more than six out of every ten households (64 percent) lived in extreme poverty in 2020.

Is Venezuela a nice place to live?

However, for the most part, Venezuela is still a great place to live, and most expats are very happy in the country. Here are some of the things that make it such a great destination. Venezuela has a surprisingly diverse climate, even though it is a tropical country in terms of its location right above the equator.

Is Venezuela an ally of China?

“It is part of a strategic alliance” Venezuelan President Hugo Chávez said, after meeting the visiting Chinese Vice President Xi Jinping who stated that “our co-operation is highly beneficial”.

What is behind the crisis rocking Venezuela?

The South American country has been caught in a downward spiral for years with growing political discontent further fuelled by skyrocketing hyperinflation, power cuts, and shortages of food and medicine. More than 5.6 million Venezuelans have left the country in recent years. So what exactly is behind the crisis rocking Venezuela?

What is going on in Venezuela?

But the government of his successor, Nicolas Maduro, has had to struggle with plummeting oil prices and an economic and political crisis that has left Venezuela in a state of near-collapse.

How has Venezuela’s economy descended into crisis?

Here, BBC News takes a closer look at how Venezuela’s economy descended into its current crisis. Arguably the biggest problem facing Venezuelans in their day-to-day lives is hyperinflation. The annual inflation rate reached 83,000% in July, according to a recent study by the opposition-controlled National Assembly.

What is Venezuela famous for?

Venezuela is a country of striking natural beauty, and one of the most highly-urbanised countries in Latin America. It has some of the world’s largest proven oil deposits as well as huge quantities of coal, iron ore, bauxite and gold.