Venezuela Economic Outlook
May 16, 2017The government has shed all remaining pseudo-democratic appearances in a matter of weeks as it attempts to hold onto power at all costs. The decision to redraft the current Constitution, which was written by the ruling party in 1999, has added more fuel to the fire. The opposition has staged almost daily protests that have been the largest in years and have left over 40 dead. As the country slides into chaos, a resolution to the political and economic crisis has become increasingly unlikely and the economic outlook is extremely uncertain. Although the economy is in freefall and oil prices remain low, the country paid over USD 2.5 billion to bondholders in another show of its unremitting commitment to repaying its creditors. The government shows no intentions of easing import restrictions to quell social discontent to avoid asset seizures in the event of a default.
Venezuela Economy Data
5 years of Venezuela economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Bond Yield||5.50||0.0 %||Aug 19|
|Exchange Rate||10.00||0.0 %||May 24|
|Stock Market||72,690||0.06 %||May 24|
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Venezuela Economic Growth
May 16, 2017The country is expected to remain deep in recession since the structural problems afflicting the country are unlikely to be addressed as the political crisis escalates. FocusEconomics panelists see the economy shrinking 5.2% in 2017, which is down 0.8 percentage points from last month’s forecast. For 2018, the contraction is expected to soften to 1.1%.
Venezuela Economic News
May 11, 2017
Taking a look at exchange rate movements since the start of the year, on 8 May, the bolivar traded in the parallel market at 5,114 VEF per USD, crossing the 5,000 VEF threshold for the first time ever on 5 May.
May 11, 2017
Given the dearth of official data for inflation, different indicators from official and non-official sources are used as proxies to measure the evolution of price levels in the South American country.
May 10, 2017
Oil prices have experienced a weak recovery after declining in March.
May 9, 2017
Car sales in Venezuela dropped 19.7% year-on-year in April.
May 8, 2017
The largest protests since 2014 have brought the country to a standstill.