Inflation in Venezuela in annual terms approached three thousand percent, since the beginning of the year, prices flew 2.4 times. About this in his post on Twitter reported Venezuelan financial observatory, which includes opponents of President Nicholas Maduro.
In April, the inflation rate relative to March was 33.4 percent. In February, Venezuela Central Bank indicated that in 2020 inflation amounted to 2959.8 percent, that is, the sovereign Bolivar was almost three thousand times cheaper.
Venezuela, according to the World Bank, remains one of the main debtors of Russia. The amount of its debt as of the end of 2019 exceeded a billion dollars.
The crisis in Venezuela began in 2014 due to the fall in oil prices. In subsequent years, the situation in the country has worsened. So, in 2018, according to the National Assembly of Venezuela, inflation was 1.7 million percent, although the IMF was talked about 1.37 million percent, and in the Central Bank – about 130 thousand percent.
In April, the Liberal Mission Foundation in his report compared Russia’s economy with Venezuela while maintaining a course on economic and social stability. One of the prospects of the report authors called the repetition in the long run scenario, which happened in the South American country.