Venezuela Economic Outlook
April 11, 2017Venezuela was thrown into uncharted political territory after the government-controlled Supreme Court backtracked on its decision to suspend the opposition-controlled National Assembly. The unprecedented ruling opens a new chapter in the long and bitter standoff between both factions and has exposed the first visible cracks in the ruling party. It is extremely uncertain how future events will play out and whether the government will be able to quell growing domestic and international pressure amid a catastrophic economic scenario. Oil prices in March declined to pre-OPEC deal lows, wiping out hopes for an improvement in public finances and risking recourse to already depleted international reserves to comply with looming bond payments. Financial markets have also experienced turbulence, with bond prices tumbling and credit default swaps increasing as an almost USD 3.0 billion payment is due in mid-April.
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 %||Apr 06|
|Stock Market||45,814||0.70 %||Apr 06|
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Venezuela Economic Growth
April 11, 2017The recent decline in oil prices has dealt a huge blow to the government’s hope of alleviating the crisis. The country is expected to remain deep in recession since the structural problems afflicting the country are unlikely to be addressed. FocusEconomics panelists see the economy shrinking 4.4% in 2017, which is down 0.2 percentage points from last month’s forecast. For 2018, the contraction is expected to soften to 1.0%.
Venezuela Economic News
April 6, 2017
Venezuelan prices dropped in March after having risen uninterruptedly since the OPEC and non-OPEC output cut agreement came into force in January.
March 7, 2017
Car sales recorded a steep 33.8% contraction from the same month of last year and totaled 215 units in February, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela).
February 10, 2017
Car sales recorded a steep 59.4% contraction from the same month of the previous year and totaled 157 units in January, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela).
February 10, 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.
February 9, 2017
In January, the average price of Venezuela’s mix of crude oil rose 0.5% from the previous month to USD 45.1 per barrel (pb) (December: USD 44.9 pb).