Alyss165

=My Reflections on Venezuela= Did you know that... Few Venezuelans would be surprised to hear the economy isn't doing well, but the new figures released by the Central Bank of Venezuela (BCV) on January 15 still felt like a punch in the gut. Annual inflation hit 141.5 percent in 2015 – double the 2014 rate, and easily the worst in the world. High inflation is nothing unusual in Venezuela. Yet since 1999, Chavismo has done a relatively reasonable job of keeping inflation well below crisis levels. However, the new figures also show Gross Domestic Product (GDP) has nosedived, sinking 7.1 percent by third quarter 2015. Growth isn't everything, especially in an economy aiming to transition away from capitalism. Yet these numbers are extreme. Moreover, the devil is in the details. In its breakdown by sector, the Central Bank of Venezuela's (BCV) report indicated food costs are among the biggest drivers of inflation. Venezuelan consumers saw the cost of food lurch upwards by 55.7 percent in the third quarter. Overall, food costs rose a whopping 254.3 percent in 2015 – a figure that easily surpasses wage increases by any measure. Increases of basic food costs disproportionately impact the poor, who typically spend a larger chunk of their income on necessities like staple foods. However, the (BCVs) numbers also show the state apparatus as a whole is also bearing a heavy load.



Interesting Facts
Venezuela's 2016 women population is 15,964,899. Venezuela's 2016 men population is 15,861,645. Venezuela's 2016 population is 31,826,553.

Venezuela's economy is 0.16 U.S dollars.

Venezuela must pay back $15.8 billion in debt between now and the end of 2016, but the country only has $15.2 billion in foreign reserves

   media type="custom" key="28228097" Did you know that...