The Venezuelan economy shows signs of distress as it approaches 2025, following three years of slow recovery post-economic crash. Donald Trump's cancellation of Chevron's operating license poses significant risks, including a looming budgetary imbalance. With oil and petrochemical revenues vital to the country's economic structure, the depreciation of the official exchange rate by 81% takes a toll, particularly as inflation resurges to 7%. Despite a 4% GDP growth in 2024, the Chevron news undermines forecasts for 2025, suggesting new economic storms on the horizon for Venezuela's fragile recovery.
The Venezuelan economy, heavily reliant on oil revenues, is facing new risks as Chevron's license cancellation by Trump threatens budgetary stability after years of recovery.
Venezuela's official exchange rate has depreciated by 81% since September, exacerbating the inflation that has climbed back to 7%, disrupting the economy's recovery efforts.
Despite a GDP growth of 4% in 2024, the news of Chevron's exit casts a shadow over the expected economic stability and growth for 2025.
The gap between the official and parallel dollar rates reflects increasing economic instability, as salaries remain the lowest in the region amid rising inflation.
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