Concept
Economic Crisis Under Maduro
The Venezuelan economy has fallen apart under Maduro, who has continued to rely on oil to support the economy. Once the price of oil fell along with oil production, Venezuela entered a recession. The production of non-oil sectors also fell, resulting in a scarcity of resources. Hyperinflation reached a historic high of 2.6 million percent at the beginning of 2019, and poverty drastically increased. (AV 2-4; Buxton 1372).
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Updated 2021-08-12
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Social Science
Empirical Science
Science