Venezuela Economic Outlook
July 11, 2017The country is staring into an abyss as widespread protests on an almost daily basis rage on. Over 70 people have been left dead and the sense that anarchy may ensue is becoming palpable in the streets. Although the first cracks in the government are starting to show, Maduro remains adamant about his hold on to power and is has been using the resources at his disposal to do so, even at the detriment of the economy. The structural imbalances that plague the country persist and economic activity has collapsed as a result. The government raised the minimum salary by 30% as a palliative measure in the face of astonishingly-high inflation and the most recent oil industry data is disappointing. Oil prices declined to the lowest level since November in June and stifled hopes that the extended oil output cut agreement between oil producing countries would fill Venezuela’s depleted state coffers.
Venezuela Economy Data
5 years of Venezuela economic forecasts for more than 30 economic indicators.
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|Bond Yield||5.50||0.0 %||Aug 19|
|Exchange Rate||10.00||0.0 %||Aug 16|
|Stock Market||185,946||0.29 %||Aug 16|
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Venezuela Economic Growth
July 11, 2017The deep recession is expected to continue as structural problems are unlikely to be addressed anytime soon as the regime focuses its efforts on survival. FocusEconomics panelists see the economy shrinking 6.5% in 2017, which is down 0.7 percentage points from last month’s forecast. For 2018, the contraction is expected to soften to 1.9%.
Venezuela Economic News
August 7, 2017
The outcome of the highly-controversial 30 July Constitutional vote has resulted in a further escalation of violence and polarization in the country.
August 2, 2017
Oil prices picked up in July and reached the highest print since April.
July 6, 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.
July 6, 2017
On 4 July, the bolivar traded in the parallel market at 7,691 VEF per USD. The result marked a steep 19.3% depreciation from the same day of last month.
Venezuela: Differential between parallel market and Dicom rate remains large despite Dicom devaluation
June 8, 2017
On 6 June, the bolivar traded in the parallel market at 6,481 VEF per USD. The result marked a steep 21.2% depreciation from the same day of last month and an all-time low.