Venezuela Economic Outlook
October 11, 2017President Nicolás Maduro addressed the Russian Energy Week forum on 4 October and affirmed that the nation would meet its debt obligations despite the imposition of a fresh round of sanctions by the U.S. The sanctions restrict the ability of the cash-strapped Venezuelan government to raise new debt from U.S. financial markets, amid increasing worldwide diplomatic isolation. Taking a softer stance, Russia is looking at the prospects of restructuring Venezuela’s bilateral debt payments. Maduro’s newly-introduced measures to peg the bolivar to a basket of currencies excluding the U.S. dollar and no longer accept payments in U.S. dollars for oil sales, in a bid to subvert the U.S. sanctions, fail to address the fundamental imbalances that have precipitated a lethal inflation-depreciation spiral. Meanwhile, campaigning for regional elections to appoint state governors to be held on 15 October kicked off on 23 September, ramping up tensions between the government and opposition.
Venezuela Economy Data
5 years of Venezuela economic forecasts for more than 30 economic indicators.
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|Bond Yield||5.50||0.0 %||Aug 19|
|Exchange Rate||11.00||0.0 %||Oct 13|
|Stock Market||534||0.36 %||Oct 13|
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Venezuela Economic Growth
October 11, 2017The new U.S. sanctions will weigh heavily on the crippled economy, which together with the authority’s measures failing to address the underlying structural problems wreaking havoc on the economy, indicates that the three-year long recession will continue into next year. Met the why particular panelists see the economy shrinking 8.3% in 2017. For 2018, the contraction is expected to soften to 3.2%, which is down 0.5 percentage points from last month’s forecast.
Venezuela Economic News
September 3, 2017
Given the dearth of official data for inflation, different indicators from official and non-official sources are used as proxies to measure the evolution of price levels.
August 7, 2017
The outcome of the highly-controversial 30 July Constitutional vote has resulted in a further escalation of violence and polarization in the country.
August 2, 2017
Oil prices picked up in August, reaching the highest print in six months.
July 6, 2017
Given the dearth of official data for inflation, different indicators from official and non-official sources are used as proxies to measure the evolution of price levels in the South American country.
July 6, 2017
On 4 July, the bolivar traded in the parallel market at 7,691 VEF per USD. The result marked a steep 19.3% depreciation from the same day of last month.