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Inflation in Venezuela, the public debt which was estimated in huge amount in July was 33.8%, and since the beginning of this year to almost 1.6 thousand percent. Such information was published by the standing Committee of the National Assembly (unicameral Parliament) of Venezuela on Finance and economic development.
The legislature is under the control of political opponents of the government. But she had Executive for many years does not publish the main economic indicators of the country.
According to estimates parliamentarians, in annual terms, prices in July increased by 264 thousand percent, lower than in previous months.
"Hyperinflation is retained and the reduction in performance is directly connected with falling demand [for goods and services] by 35% during the year," commented data from the MP Alfonso Marquina.
Venezuela in recent years are experiencing acute socio-economic crisis accompanied by devaluation of the national currency. The international monetary Fund predicts that by the end of this year, inflation in Venezuela can reach 10 million percent. According to the United Nations, the Bolivarian Republic has left more than four million people.
In 2019, the country erupted into a political crisis. In January 2019 on the background of mass protests against President Nicolas Maduro, the President of the National Assembly of Venezuela Juan Guido declared himself acting head of state. Most of the EU countries, USA, Canada, Australia and part of Latin America announced the recognition of Guido interim President of Venezuela, and Russia, China and Cuba supported Maduro.
At the end of April, Guido announced the beginning of the "final stage" of the removal of Maduro from power, and then street started filling up with people and came to serious clashes. In June the authority of Maduro announced the prevention of an attempted coup, then Armed forces of Venezuela changes happened.
In August, the President of the United States Donald trump signed an Executive order blocks property of the government of Venezuela to American jurisdiction and imposing a ban on any supply of financial assets, goods and services. Under the lock, which entered into force on August 5, includes the assets of all departments of the government of the Latin American countries, as well as the Central Bank of Venezuela and the state oil company PDVSA.