Venezuela: Economic Situation

(asked on 1st July 2019) - View Source

Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign and Commonwealth Affairs, what recent assessment he has made of the effect of the economic crisis in Venezuela on the (a) political and (b) economic situation in that country.


Answered by
Alan Duncan Portrait
Alan Duncan
This question was answered on 8th July 2019

The Venezuelan economy is in a desperate state. The IMF is forecasting inflation in Venezuela to reach 10 million per cent for 2019 and the Venezuelan Central Bank has reported a drop of over 55 per cent in GDP since 2013. This is a man-made disaster caused by the Maduro regime's economic mismanagement. It has resulted in a political, economic and humanitarian crisis forcing more than 4 million Venezuelans to leave.

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