Domestic Consequences Of The Economy

1944 Words Apr 28th, 2016 8 Pages
Domestic consequences of the economic crisis in Venezuela under the government of Maduro

The current economic crisis the country of Venezuela is experiencing, one of the worst

economic crisis in its history, is a process that have been evolving throughout the years and it

has deteriorated rapidly since 2013, under the government of president Nicolas Maduro. There

are internal and external factors that influence and aggravate the economic situation of this

country. The domestic consequences of this scenario involve a constantly increasing poverty of

the citizens, which require the establishment of social benefits, an increase in taxes and the

performance of expropriations. The continuous aggravation of the inflation of the country leads

the government to the installation of an institution for the currency exchange control, the

presence of shortages, and a significant increase in unemployment. The shortage of basic

products improve the illegal market of primary goods, deteriorates importations and restrain the

enhancement of the national industry. These issues are the result of the measures the Government

of Nicolas Maduro have been performing, in an attempt to overcome and improve the

Venezuelan economy.

The complex and alarming economic crisis the South American country is currently

facing, has as a target the most vulnerable sector of the country, increase indiscriminately the

poverty rates. Having as a consequence the lack of basic resources needed for the…
Open Document