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November 29, 2018 1h15
In 1980, Venezuela was the richest country in the region. Now, it is the poorest who have the greatest oil wealth on the planet, said MP Ángel Alvarado, a member of the Finance Committee of the National Assembly, who introduced the index of the 39, economic activity before "the policy of recurrent concealment of the Central Bank of Venezuela".
Since Nicolás Maduro assumed the presidency in 2013, economic activity has dropped by 53%, which "results from a failing economic model that expropriates, controls and impoverishes the Venezuelan people". He said that it was the longest and longest depression of the American continent, of shorter duration and depth than the US, and that It only resembled those of countries that experienced civil wars. He added that this figure places Venezuela among the 10 worst collapses in world history, of which only that of Libya took place during this century, in 2011.
"This puts us in an extremely dramatic situation, which results in a complex economic emergency, famine and lack of drugs and production, as a result of an economic model and recent measures." Economic Recovery Plan did not work, the contraction persists and these are the figures that BCV continues to hide, "Alvarado said.
In the third quarter of this year, the economy contracted by 29.8% due to lower oil production, hyperinflation, migration, lack of confidence in the economic model and decrease in consumption. The parliamentarian said that during this period, crude oil production had dropped by more than 40%, which represents a loss of more than 900,000 barrels.
"Hyperinflation is also a phenomenon that contracts the economy. People are not encouraged to work with such low wages and companies less motivated to rotate their stocks, invest and produce." , he explained.
He added that the lack of confidence is due to the fact that the policies put in place by the government generate neither investment nor new openings, but on the contrary, the closure of companies, which affects the economic activity.
The decline in consumption, which is also accelerating the collapse of the economy, is evident in figures proposed by the United Nations Food and Agriculture Organization, according to which the Venezuelan eat only 4 kilos of meat a year, the lowest of South America.
In 2012, one year before the start of Maduro, per capita food consumption was 23.7 kilos, according to Carlos Albornoz, president of the Venezuelan Institute of Milk and Meat. The multilateral organization said that in 2018, each Uruguayan had consumed 59.2 kg and each Argentine 58.2 kg, despite a monthly inflation of 6.5% in September.
Alvarado added that it is very likely that the decline in gross domestic product will continue and that 2018 will close with a contraction of more than 30%.
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