Economic Report

INTRODUCTION: The prudence of Venezuela, a country located in South America is currently facing major frugal crisis that need to be addressed on immediate basis. almost of the major economic concerns it faces are the fluctuations in GDP, unemployment and inflation and so forth In this report we will discuss the current rest(a) of the Rate of Inflation and its collective effect on the economy of Venezuela. INFLATION & EFFECTS: With an average population of around 28.3 million, Venezuela has a very healthy GDP of 328 billion US dollars (current US $) ( human being Bank, Data 2006-2011). This means that the Gross Domestic Income (GNI) stands between the swiftness middle level with the average GNI per capita as calculated by the Atlas method at US $ 10,090/- (World Bank, Data 2006-2011). The literacy graze stands at around 95% with the economic policy/ impertinent debt, labor/social protection and urban development standing at 16.7%, 7.6% and 94% percent respectively (World Bank, Data 2006-2011). further despite having such positive figures, Venezuelan economy has belatedly experienced complications due to inflation. The inflation according to a World Bank survey stood at 8.4% in 2009 (World Bank, Data 2006-2011) with a possibility to accession rapidly.

This means that inflation has gained a solidifying of momentum as compared to the equivalent time in 2010 and 2011. gibe to data issued by the Central Bank of Venezuela, the fact that the governance has authorized additional increase in goods with regulated prices puts unspeakable pressure on the general consumer since the price of basic necessities would increase drastically. Venezuelas nationwide consumer price index (NCPI) recorded a 1.4 percent increase in March 2011 compared to February 2011(Central Bank of Venezuela, Publications 2011). lay in inflation in the first quarter rose to 6 percent, slightly higher than the figure reported in the same period of 2010 (5.8 percent) (Central Bank of Venezuela, Publications 2011). Proving... If you want to get a beat essay, order it on our website: Orderessay

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