Money in Venezuela

Venezuela Money | Economic News & Forecasts

Venezuela - Money

The economy continued to languish in the final quarter of last year, although seemed to contract at a less severe rate. Oil production appeared to bottom out in Q4 after having fallen by more than 40% since the start of 2019 as U.S. sanctions and power outages choked the vital industry. In an attempt to revive the sector, the government indicated that it intends to offer majority shares and control of its oil industry to foreign corporations. In late January, officials held talks with Repsol, Eni and Rosneft to shape a deal which would grant government-owned oil property and restructure some of PDVSA’s debt in exchange for assets. Meanwhile, the increasing dollarization of the economy has reportedly somewhat stabilized prices, incentivized private sector activity and slowed emigration, with authorities introducing a VAT on U.S. dollar transactions to tap into new sources of government revenue.

Venezuela - Money Data

2014   2015   2016   2017   2018  
Money (annual variation in %)64.0  101  159  1,121  63,257  

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Venezuela Money Chart

Venezuela Money
Note: Annual variation of M2 in %.
Source: Venezuela Central Bank and FocusEconomics calculations.

Venezuela Facts

Value Change Date
Bond Yield5.500.0 %Aug 19
Exchange Rate248,8320.0 %Aug 17

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