Venezuela's economy is in a bad state...?
The most prominent person responsible for the bad condition of venezuela is President Nicolas Maduro. He has been the President of venezuela since 2013. It is alleged that in the last decade, President Maduro and his allies have violated the basic principles of democracy to maintain power. This includes limiting internet access, arbitrarily arresting political opponents and critics.
These problems during his tenure, along with international sanctions and the effects of the Corona epidemic, have led to a terrible humanitarian crisis. Due to which there is a shortage of basic things like food, drinking water and medicines in the country. The public is facing a serious shortage of these things. As soon as President Nicolas Maduro came to power, the country's GDP started falling. The GDP growth rate started falling from 2013 and reached -30% by the year 2020.
According to a survey in november 2022, 50 percent of Venezuela's population of 28 million is living in poverty, although this poverty figure is less than last year. In 2021, 65 percent of the people were living in poverty. At the same time, since 2014, about 8 million Venezuelans have taken refuge in neighboring countries and other countries. The governments of some countries have allowed them to stay temporarily. However, the Venezuelan Foreign Ministry says that since september 2020, more than 3 lakh Venezuelan migrants have returned to their country.
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