Venezuela Economic Outlook
October 14, 2014The bolivar traded in the parallel market fell to an all-time low in early October, mainly on the back of a shortage of U.S. dollars and rising demand for the greenback to shield against skyrocketing inflation. Analysts noted that the recent cash crunch also reflected the government’s need to make USD 9.2 billion in debt payments before the end of the year. Despite rumors that the country could not meet its international obligations due to its low level of official liquid reserves, the ample cash reserves allocated outside of official channels give the government leeway to service its debt.
Venezuela Economic Data
5 years of Venezuela economic forecasts for more than 30 economic indicators.
|Bond Yield||8.8||0.0 %||Oct 23|
|Exchange Rate||6.30||0.0 %||Oct 30|
|Stock Market||2,919||2.83 %||Oct 30|
Venezuela Economic Growth
October 14, 2014LatinFocus Consensus Forecast panelists see GDP falling 2.6% in 2014, which is down 0.1 percentage points from last month’s estimate. Panelists expect GDP to expand 0.2% in 2015.
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Venezuela Economic News
October 21, 2014
Finance Minister Rodolfo Marco Torres presented the draft budget for 2015 to the unicameral National Assembly on 21 October.
October 8, 2014
The bolivar that is traded in the parallel market continued on a downward spiral in recent weeks due to a severe shortage of U.S. dollars and Venezuelans’ appetite for the greenback as they attempt to protect themselves from soaring inflation.
October 8, 2014
Annual car sales tumbled 74.9% over the same month last year and reached 1,917 units in September, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Camara Automotriz de Venezuela).
October 1, 2014
In September, the average price of Venezuela’s mix of crude oil fell 2.7% over the previous month to USD 89.3 per barrel, which represented the lowest price since February 2011.
September 9, 2014
Consumer prices in August jumped 3.93% over the previous month, which was below the 4.14% rise tallied in July and virtually in line with the 3.90% increase that LatinFocus Consensus Forecast panelists had expected.