Venezuela hy­per­in­fla­tion at a new dizzy­ing high

The Phnom Penh Post - - BUSINESS -

VENEZUELA’S sky-high in­fla­tion soared to 24,571 per­cent in the past 12 months, law­mak­ers said on Mon­day. Pres­i­dent Ni­co­las Maduro’s so­cial­ist govern­ment con­trols most of the coun­try’s econ­omy and is in the midst of an ever-deep­en­ing crisis with food and medicine in short sup­ply. An­a­lysts blame what they call mis­man­age­ment of a state-led econ­omy. That in­cludes its con­trol over hard cur­rency, as well as low oil prices. The lat­est fig­ure comes from a Na­tional As­sem­bly fi­nance com­mit­tee re­port look­ing at the pe­riod May 2017 to May 2018.

Newspapers in English

Newspapers from Cambodia

© PressReader. All rights reserved.