The Venezuelan Economic Crisis and Oil

By Daniel S. Leon, PhD Candidate at the University of Leipzig, Germany
Location Germany Germany

Venezuelan economic woes that affect the general population will continue to worsen, even if oil prices rise again. Venezuela has been mentioned in the last few months repeatedly because of the precarious state of its economy. It entered recession as of last year after GDP growth during the first three quarters contracted by more than two percentage points in each term. The Venezuelan inflation rate for 2014 was the world’s highest, 63.6 percent as reported […]