Inflation in Venezuela exceeded 2600%

Инфляция в Венесуэле превысила 2600%

The country’s growing inflation

In 2018, the hyperinflation in the country can reach the level of 14000%.

In Venezuela, the inflation rate in the previous 2017 exceeded 2600%. About it is spoken in the report of the national Assembly of the country, writes Prime.

“The standing Committee on Finance presents the inflation rate from the national Assembly in terms of December 2017. As the Deputy said Rafael Guzman, inflation (in December) has reached 85%, while the annual cumulative rate was 2616%”, — the statement of opposition of the Parliament of Venezuela.

According to members of Parliament, if not to accept urgent measures, the country in the new 2018 hyperinflation can reach the level of 14000%.

“Then don’t have the resources to buy anything, and people will depend on the government, which also will not be enough capacity to feed 30 million people,” explained Guzman.

Parliament sees ways of resolving the situation in the urgent action plan, which consists of several items. So, it is proposed to cancel the control of the exchange rate of the currency (official exchange rate different from the rate of “black market” about ten times), to stop the money printing press, to achieve the refinancing of the external debt of Venezuela, provided that the country will provide the confidence of investors. Another point is to develop a clear plan for holders of shares and to seek international financial aid to the country.

Recall that Venezuela’s economy has entered a stage of hyperinflation.