12:34 GMT +318 July 2019
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    Residents stand outside during a blackout in the Santa Cruz of the East neighborhood, in Caracas, Venezuela, Thursday, March 14, 2019.

    Venezuela's Losses From Blackouts in March Top $2Bln - Research Firm

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    MEXICO CITY (Sputnik) - Venezuela’s losses from large-scale power outages in March exceeded $2 billion, local research firm Ecoanalitica said on Tuesday.

    "Ecoanalitica estimates losses from the electricity crisis to which the Venezuelan population has been subjected since last March 7 at $2.106 billion," the company said on Twitter.

    The sum is equivalent to 2.5 percent of the country's annual gross domestic product (GDP), it added.

    In early March, Venezuela suffered its worst power outage in history, when as many as 21 out of 23 states were left without power. Venezuela's national electricity supplier, Corpoelec, said that the incident had been caused by "sabotage" at the Guri hydroelectric power plant, which generates electricity for nearly all of the country.

    READ MORE: Venezuelan Authorities Report Attack on Country's Power Grid After New Blackout

    Major power outages continued across the country later in March, with Caracas saying that the country's power system had suffered several attacks. Venezuelan President Nicolas Maduro, in particular, mentioned "electromagnetic attacks" on power transmission lines.

    At the end of last week, spontaneous protest actions were held in Caracas and several other cities, demanding the restoration of electricity supply.

    Related:

    Venezuela Struck by Blackouts Second Day in Row, Blames Attack on Power Plant
    Electricity Supply Restored to Nearly All of Venezuela Following Blackout
    New Blackout Hits Parts of Venezuela Including Caracas - Reports
    Massive Blackout Hits Venezuela's Caracas Again, Reason Behind Outage Unknown
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    supply, attack, electricity, blackout, Venezuela
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