23:56 GMT +323 October 2017
Live
    A man receives Venezuelan currency bills in Caracas on November 30, 2011.

    Inflation in Venezuela Stands at 93% So Far in 2017

    © AFP 2017/ Juan BARRETO
    Latin America
    Get short URL
    0 38455

    Inflation in Venezuela was 92.8 percent in the first four month of this year, the country's national assembly said in a report.

    MEXICO (Sputnik) — According to the Thursday's report, the prices rose up 16.5 percent in April.

    In January 2016, Venezuela's President Nicolas Maduro declared an economic emergency in the country. The announcement came two days after Venezuela’s oil price dropped to $24 a barrel, the lowest mark in 12 years, while up to 96 percent of Venezuela’s budget depends on oil revenues. In February, the Central Bank of Venezuela said the country's annual inflation rate passed the historic 180-percent mark in 2015.

    According to the International Monetary Fund, 2017 inflation rate in Venezuela could be over 700 percent and 2,068 percent in 2018.

    Deep economic crisis the country triggered mass protests, with people demanding Maduro's resignation. Most recent massive protests started in Venezuela in April after the country's Supreme Court ruled to restrict the power of the state’s National Assembly. The decision was subsequently canceled, but the protests continued, claiming the lives of over 30 people.

    Related:

    Venezuelan Officials Say 39 Killed in Clashes, Dozens More Injured
    At Least 44 Killed After Protests in Venezuela Turned Violent - Rights Group
    US Moves in Venezuela Expose Washington’s Hypocrisy on Russia
    Tags:
    inflation, currency, Venezuela
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment