2300% of Inflation in Venezuela

The International Monetary Fund (IMF) gave a bleak forecast of the Venezuelan economy. According to fund experts, in the next 2018, inflation in Venezuela could reach 2300%.

According to the Interior Ministry, the most serious obstacle to economic activity is the intensification of the political crisis in the country. Due to the decrease in oil production and the deterioration of the security situation, the decline in economic activity is expected to be around 10%.

IMF forecasts are also for a 12% drop in GDP by the end of 2017. Venezuelan President Nicholas Maduro previously asked for a forum for oil producers.