The National Assembly of Venezuela claimed that the country's economy had collapsed 55.17% in five years

The Venezuelan economy 55.17% s collapsed between 2013 and 2018 Following the sharp decline in oil production, source of nearly 96% of the country's revenue, reported Wednesday the National Assembly (AN, Parliament), the only power that controls the opposition.

"The destruction of wealth is 55.17% since (Nicolás) Maduro is in charge, which places Venezuela among the worst economic collapses in history attributed to human causes. In this case, to a failed model, to the socialist model of the 21st century, "the member of the ANA Finance Committee, Ángel Alvarado, said at a press conference.

The opposition MP said that between the second half of 2017 and the same period of 2018, the Venezuelan economy dropped 37.17%.

"It's a bit higher than what happened in Cuba during the special period, which lasted three years, this is greater than the contraction experienced by the Soviet Union at the time of the collapse, "he said.

Alvarado also noted that the data provided on Wednesday by Parliament allow "simulate or predict"The behavior of GDP, a figure that the Central Bank has not provided for years.

According to the legislator, the increasing decline in oil production is the main factor that "has to do with" the marked contraction of the Venezuelan economy.

"He comes in free fall and continues to fall"He said referring to the pumping of Venezuela, which was located at about three million barrels a day in 1999 when Chavismo came to power.

On the same day, the Organization of the Petroleum Exporting Countries (OPEC), of which Venezuela is a founding member, reported that pumping the country fell in March 28.3% from Februaryup to 732,000 barrels a day.

This level of production is the lowest that Venezuela has shown in three decades, with the exception of the declines in 2002 and 2003, when a strike by the national oil company Petróleos de Venezuela (PDVSA) sank, pumping below 100,000 barrels a day for several months.

PDVSA's problems, which include numerous investigations into senior-level bribery, have escalated this year when US President Donald Trump's government signed a series of sanctions against the oil company.

Moreover, the Maduro regime has lost control of Citgo, Venezuela's main refinery outside its borders, as well as its badets, following several initiatives by the Speaker of Parliament, Juan Guaidó, which more than 50 countries recognize as President in charge of the country.