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"The content of Venezuela is so long that hyperinflation is so long"



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15 November 2018 01:15

Reduced population, powdered production apparatus and severe migrations are the result of long hyperinflation events, and only a fraction of these impacts have been observed in Venezuela. In the twenty-fifth edition of the Economic News Congress, organized by the Andrés Bello Catholic University School of Economics students, experts predicted that 2019 would be more severe hyperinflation and greater economic deterioration.

Economist Luis Oliveros confirmed that the revised panorama and no one would have the courage to predict that hyperinflation is only a few months away; On the contrary, at least they predict a long life for next year. Edi All the components of Venezuela make hyperinflation very long, “he reiterated.

He stated that if the daily rate is 4% – between August and September, the prices before 20 August in the second week of June 2019 will return; That is, with the government's monetary recycling, 5 zeros received by the money will be recovered.

Nicolás Maduro has every intention of pushing the world to become the champion of hyperinflation. In the region, he probably managed to do so in the rest of the world, and can do even more when he assembles Marxist advisers with Ecuadorian fraudsters in the same room. "

The expected inflation for Uruguay in 2018 is 7.2%. It is the only country in Argentina that has a higher annual inflation than a Venezuelan record in a single day. ; It will take years to come, as Venezuela has to offer,; he said.

Luis Vicente León, president of Datanalisis, said that next year he would be economically stronger, because there would be more companies to be paralyzed against the risk of operating in hyperinflation, and that productive supply would contract.

Ötürü In terms of the size of inflation, Venezuela is no worse than it could be because of the biggest private savings per capita in Latin America. After 1983, the Venezuelans never trusted to protect the bolivars. He added that 86% of Venezuelans think the country is "bad and very bad".

A negative diagnosis. Which experts warn for next year is not only a continuity, but also a deepening of the serious situation. Economist Omar Zambrano said the country was blind because of the lack of official figures, as well as the most severe and long-term recession in the modern history of the country.

To explain the size of the collapse, Zambrano recalled that from 2012 to 2017 the poverty rate of the ten poorest countries in the country rose from 4.1% to 29.9%. According to Anova Consultants last year, there were 26.3 million poor people who were not enough to get the food basket. The cost of closing the poverty deficit is $ 15.3 billion per year.

In 2018, as a result of the accelerated increase in prices, the purchasing power collapsed. Oliveros, despite the significant increase in the salary on September 1, since January, the purchasing capacity of the integrated salary fell 85%, he said.

Economist analyst and econometrics director Henkel García said that nations are poor, because their institutions are not inclusive and that the process of dissolution of power is necessary. Esi But Venezuela has two characteristics that explain why we are like this: we are a patrimonial state, which is a highly presidential country and the owner of the main fortune we have.

José José Virtuoso, the first speaker of the UCAB, explained that the crisis in Venezuela is not sufficient because the crisis in Venezuela does not express the depth of the crisis. "Political pact, democracy, production capacity and collapse to meet our needs, so the economic approach is fundamental," he added.

"Maduro is pushing us to become the world champion of hyperinflation.

Luis Oliveros,

economist


Challenges, recommendations and recommendations

Ronald Balza, one of the dean economists of the Faculty of Economics and Social Sciences of the UCAB, shared the recommendations and suggestions for the transition in the Congresses of the Economy News.

– The first, he said, contributed to the separation of parts of the authoritarian government, to govern and govern the transfer of power, and to stabilize and institutionalize the emerging democracy.

– Some of the suggestions of the transition we mentioned were: progressively progressively; recognition of differences, encouraging the approximation of interests; offers an optimistic and inclusive vision; realizes how bad it is, finds solutions and creates space for dialogue.

– Finally shared the offerings. Some were about the relationship between humanitarian aid and social programs; for example, calculating the amount of transfers to the beneficiaries, the distribution channels and the geographic location. Regarding proposals on the public sector budget, monetary financing should be replaced by exchange rate adjustments and the elimination of indirect subsidies.

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