According to the situation report of the Institute of Economic and Social Research of the Andrés Bello Catholic University (IIES Ucab), this 2022 would be a good year for Venezuelaa country that sustained hyperinflation for more than four years reaching levels of extreme poverty according to data from this same house of studies.
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For researchers, economic growth would be 8.6 percent compared to 2021 but only achieving an increase in oil production that could reach 950,000 barrels per day. Thus, the oil Gross Domestic Product (GDP) would grow 39 percent, being a growth of 5 percent of the total GDP.
with those 950,000 barrels per day, there would be a growth of 75 percent in the country’s main industry, which currently does not exceed 543,000 barrels per day. In addition, the export could be located at 760,000 barrels per day.
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The researchers of this report describe as positive some of the measures that the government of Nicolás Maduro has implemented, such as the “monetary and fiscal stabilization” carried out by the Central Bank of Venezuela (BCV). With this, inflation would reach 225 percent per year, below that 686 percent that 2021 had and even lower compared to 2,960 percent in 2020 and 9,586 percent in 2019. However, that 225 percent rate is still inflationary.
Another aspect highlighted by the research is that the remittances sent by migrants, estimated at $2.7 billion in 2021, would be $3.5 billion by 2022, which represents increases of 26.1% in 2021 and 30 % in 2022.
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Even so, with these data and visible improvements, the purchasing power of the common citizen continues like a nightmare. It hardly reaches 2.5 dollars a month For employees who depend on the public administration and pensioners, transactions in dollars are also beginning to increase and not everyone has access to quality public services.
ANA RODRIGUEZ BRAZON
WEATHER CORRESPONDENT
CARACAS
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