Venezuela's current economy?
Venezuela's economy in the last years is not good news as far as the economic sector is concerned in comparison to previous years, the economic crisis that the country presents today is worrisome, social and political confrontations and above all inflation are problems that are linked to generate an environment of chaos.
The oil sector, which has been the main carrier of economic prosperity in the country, today is not in its best moments either, where the production does not exceed 400 thousand barrels of oil, the figures of the Opep this together with the high cuts in electrical energy that has affected the South American country, which affects the economic crisis we are facing, corruption, mismanagement, lack of good follow-up in administrative policies.
The degree of inflation that we have today surpasses 7000 % which makes it impossible for the economic sector to stabilize, the majority of the inhabitants do not have the capacity to consume. In addition, there is no stimulation of the industrial apparatus of PDVSA which is in its worst moment of productivity and is the main industry that the Venezuelan country has.
The economy of the country is dollarized and the sad reality that a minimum salary is 400 thousand bs per month, and being 1 dollar in 472000 bs implies that the minimum salary is 0.84 dollars, in reality that in economic terms this means a shame when we compare it with the macroeconomic variables of Venezuela in the past, it is together with other hostilities that have made Venezuelans migrate to other countries and in this way be able to find the conditions of dignified life that here are impossible to achieve.
Recommended references.
Venezuela, towards an opening in its economy?
What to expect from the Venezuelan economy in 2020?