In 2021, the Economic Venezuela economy was in the first time, and the 3-point reasons Help Madu Luotai passed.

Home > Int'l

In 2021, the Economic Venezuela economy was in the first time, and the 3-point reasons Help Madu Luotai passed.

2022-01-28 18:11:43 45 ℃

In 2019 before the new crown epidemic, the pitch of the small country in Venezuela was a global focus. Under the severe sanctions in the United States, Venezuela is in the end of the bad socio-economic situation. But now the past three years, the Economic Venezuela economy does not completely bankrupt, but it ushered in an unprecedented development:

On January 15th, the President of Venezuelan Nikolas Maduo said, the Venezuela economy has achieved first growth in the past seven years in 2021, and the annual growth rate may exceed 4%.


According to reports, Ma Duo disclosed the above data when the National Congress held at the National Congress of the Venezuela held on the 15th. Ma Du Lu said that Venezuela was expected to reach 7.6% in the third quarter of 2021, which indicates that "Economic War of 5 years of sanction and blockade, Venezuela is returning to economic development."

The good news is still not allowed. According to the data released by the Bank of Venezuelan recently, Venezuela was 7.6% in December 2021, and it was maintained in the number of digits for 4 consecutive months for 12 consecutive months. This means that the country finally ended the vicious inflation from 2017.

Venezuelan hoarding food

So before this, there is a lot of money in the Venezuela economy?

According to the data of the International Monetary Fund, Venezuelan GDP is also as high as $ 323.6 billion in 2015, but since 2016, the annual average of more than two digits fell, and the influence of the epidemic in 2020, the decline or even up to -26%, With only $ 47.3 billion;

The per capita GDP of Venezuela is only 1691 US dollars in 2020. In South America, it is the first in South America. It is also the only one in South America only one per capita GDP country;

According to the data released by the Bank of Venezuela, the annual inflation rate of the country is 862%, 13000%, 9500% and 3000%, respectively, and falls to 686.4% in 2021;

Affected by this, in 2020, Venezuela's legal minimum monthly salary is only $ 2.4, which is also a sharp result - in 2018, this number is only $ 1.75;

In a group of Teachers who lived in Caracas in Capital, the monthly income of $ 7, enough to buy a kilogram of cheese and a box of eggs, a grassroots civil servant with a doctoral degree and 20 years old, only worth $ 35;

According to the 2011 University of Venezuela, I jointly issued a people's livelihood report, pointing out that 87% of national lives in the country are in poverty. Due to the lack of clothes, the average body weight of Venezuela in 2017 decreased by 11 kg ...

Poor Venezuela

What is unimaginable is that such a poorly reflective country, its oil's proven reserves are as high as 30.38 billion barrels, for the world's first, or even more than 297.6 million barrels of Saudi Arabia. In the 1970s that the Venezuelan oil industry has just started, Venezuela is indeed a south of South America, and is one of the world's largest top 20 economies at that time.

Just half a century, such a difference, what happened to Venezuela?

This involves it, both natural disasters, and human disasters.

The so-called natural disasters refers to the Venezuela economy is too relying on oil exports.

The huge amount of oil exports did let the Venezuela economy flew in the late Cold War, but it also quickly made the Venezuela's society to over-reliably dependence on oil exports. In the face of the status quo that only lying money, you can fly over, in the 1970s to 2000, in the early 30 years of early 2000, there is no reasonable in the Government of Venezuela, and the development of the three major industries, especially the development of industries. long term planning.

Since 2005, global oil prices have soared from $ 40 / barrel all the way to $ 120 / barrel in 2011. This has worsened Venezuela's in-law-export addiction - in the peak period, oil export income accounts for the National General Income of Venezuela. The proportion is even as high as 90%.

Ma Duo and oil workers

However, it should be noted that Venezuelan oil although the reserves of the world's first, but more than 75% are high sulfur oil, it is commonly known as heavy oil. Compared with Saudi's low sulfur crude oil, heavy oil buried depth is deeper, and there is more cost of oil sand, and more costs must be taken in terms of purification.

In addition, the technology is behind, which causes Venezuela only to directly exploit the cost (from the cost of booming from the oil well) as high as $ 23.5 / barrel, which is the highest in the world - compared with the lowest Saudi oil. Direct mining costs are only 1.5 to 2 US dollars / barrel, and the production cost is only $ 17 / barrel.

Such high cost means that Venezuela's risk tolerance fell in international crude oil prices is the worst world. Therefore, when the price of the international crude oil market due to the US shale oil revolution and bulletic price turmoil falls in 2012, Venezuela lasts for nearly 40 years, has also declared ending.

At this time, the three major industries in Venezuela were basically stepped in place, and Venezuela, who lost almost the only source of income, naturally, is naturally washed.

Venezuelan oil mining

The so-called human disaster refers to the extreme left thoughts of Chavez further degrade the normal development of the Economic Venezuela economy.

Chavez and his left-wing ideas can be sought after in Venezuela in the 1990s. It is because the profitery brought by the oil economy will overremond the Venezuela's capitalist government, and all kinds of corruption and corruption events have emerged. The gap between the rich and the poor is excessive.

But in any case, the Venezuela is also the free market economy, and the existence of a large number of private enterprises and foreign investments can basically ensure the normal operation of the social economy. However, after the last stage, Chavez announced that Venezuela immediately changed from the free market economy into a socialist economy, blocked almost all private enterprises and foreign investment, and the economic industry in the entire country was almost mandatory.

The negative consequences of the extreme economic policy on this side can be imagined:

The market regulation capacity is basically lost, and the enthusiasm of national production is sharp; loss of overseas investment has led to the development of domestic industries, but further rely on imports; state-owned enterprises lack progressive motivation, everyone is sitting; public power departments comprehensive bureaucratic, corruption severe……

In the face of such a bad problem, Chavez is not willing to admit his mistakes. In order to ensure the stability of domestic society, ensure that the people support their own support, a satirical result is that compared to the previous capitalist government, Chavez is more dependent on oil exports - the petroleum export income mentioned above accounts for the proportion of national total national income of Venezuela Even the glasses of 90% are happening in the era of Chavez rule.


Therefore, when the international oil prices continue to fall from 2012, Chavez's rule is also synchronized to declare bankruptcy, in 2013, the intimate comrades Ma Du Luo - although this is because Chavese is suffering from cancer, but in 2012 In the election of the year, Chavez's support rate has dropped to only 54%, while the opposition presidential candidate has a support rate of up to 45%.

To put it bluntly, Maduo took over the in 2013, although it was still harmonious, it had a variety of dark flows under the ice. Until 2015 International oil prices finally started to fall, with an average of 50 US dollars / barrels completely exceeded the receiving bottom line of Venezuela, the GDP growth rate of Venezuela was -5.7%, and the social economy of the Venezuela had over-reliance on oil. Negative influence, and the hidden dangers left by the Chavez era, finally started to completely broke out.


So after the decline in this long time and confusion, especially in the case of the new crown epidemic in 2020, the Venezuela under Maduo is actually the first time GDP growth in 2021 to recover.

This mainly involves three reasons.

First, the international oil prices returned to the rise cycle.

Affected by new crown epidemics, major governments in the world will regard economic recovery as the number one task in 2021, thereby driving global commodities and raw materials to enter a new round of upwards, and then with the global currency loose policy and exit speed. Naturally also drive global oil prices all the way up - December 2021, Brent crude oil prices were $ 74 / barrel, although it did not reach historical high, but the $ 42 / barrel compared to 2020 has risen sharply.

Second, the United States basically gives up sanctions on Venezuela.

Venezuela has entered a serious turmoil from 2019, and a big reason is that the US Trump government once tried to overthrow Madu Region, and imposed a very stringent petroleum embargo and sanctions against Venezuela.

However, under the influence of the new crown epidemic, under the influence of the multi-factors of the China Dispute and the Democratic Government, today's Venezuela is no longer the number one enemy in the United States. Although all kinds of sanctions have not been canceled, the Biden government has long closed a eye.

Committee opposition to the leader

It is encouraged by this, and Venezuelan oil exports have achieved substantial growth in 2021. According to OPEC organizations, "December 202-1 Petroleum Market Monthly Report", Venezuela was twice that the average daily output in November 2021 was almost twice that of 434,000 barrels / day production last year; in December 2021, Venezuelan oil daily output has hit a key gateway of 1 million barrels.

The oil export is so strong, which naturally can significantly improve the national economic situation of Venezuela.

Third, the Maduro government is also learning the leaders before absorbing.

The Chavez era buried so many hidden dangers to Venezuela, Maduro himself is almost opposed to the stage, a very main reason is that these left-wing governments do not allow the existence of a protected extreme policy in private economies. So from 2019, the Madura government has begun to allow expanding foreign exchange use and relaxing control of social economy, allowing private companies to develop in accordance with the free market economy.

Between 2020, the Maduo government accelerated this relaxation of social and economic control. All the results of all reform measures have begun to appear in 2021.


Venezuela's society can finally see the end of the dawn, which naturally deserves all the people of the Venezuela. But we must also notice that although there is a good sign, the front road of the Venezuela economy is still heavy: the Economic Venezuela economy is still over-relying on oil exports. However, with the closure of the Global Economic Revenue Growth window in 2021, it will also be greater than that of Venezuelan oil exports, but growth is likely to expect;

For the fear of social turmoil and loss of power, the Madu Luo government still has the courage to systemic reform to the domestic economic system and industrial structure. All kinds of reforms started, and it is very likely that it is just a compromise to the people.

That is, this "miracle", which is the social economy created in Venezuela in 2021, is only a inevitable result in the context of the Great Times. Its impact on the entire country of Venezuela is still local and surface, Venezuela's domestic society Deep contradictions still did not see any signs that can be solved.

Protest in the Venezuelan

So this is the next question: In 2022, the Maduro government is willing to continue to act on the road to reform? Still do this, is it satisfied with the existence of just maintaining regimes?

The people of Venezuela are waiting for Maduo to answer.