The Venezuelan economy in 2021 was characterized by a series of restrictions imposed by the government due to the pandemic. However, for 2022 great challenges are assigned to achieve economic growth in the country.
The main economic challenges for Venezuela for 2022 are:
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Tame inflation
Since 2017, Venezuela has registered the highest hyperinflation in the world, but last year and for 11 continuous months it achieved figures below 50%, placing the country one month away from overcoming hyperinflation. The great challenge of 2022 is to reduce these monthly percentages, but above all to ensure that the prices of products and services do not increase again.
According to the figures issued by the Central Bank of Venezuela, accumulated inflation closed at 631.1%, while the interannual was 1,197.5%. The national government must deal with these figures, which aspires that 2022 will become the year of economic recovery.
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Increase Tourism
Achieving a diversified economy is one of the goals set by the national government, which plans for 2022 to focus its attention on the tourism industry, which is why it is currently developing projects to attract investment and reactivate the tourism sector in the country.
The President of the Republic, Nicolás Maduro, believes that tourism should become the driving force behind the economy, replacing the oil industry. However, this is one of the biggest challenges of the country because this fact also implies overcoming the economic crisis and recovering basic services such as electricity, water, among others throughout the national territory in order to turn the country into a tourist power .
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Revive the national currency
Within the framework of a de facto dollarization, installed as an equilibrium measure for a non-existent price of the bolivar. The biggest challenge for the national government is to recover the value of the bolivar and convert it back into the national reference currency.
The national executive promised, within the framework of the third national conversion that occurred last October, to promote the national currency now called the digital bolívar
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Rescue sports spaces
Venezuela achieved one gold and three silver medals at the Tokyo 2020 Olympic Games, for which the President of the Republic announced the launch of the “Olympic route plan” that will aim to strengthen sports areas for the training of athletes from the country. The challenge of this mission is to recover abandoned spaces and build new buildings, which implies a large financial investment in the infrastructure area.
M. Rodríguez
With information from specialized media in economics
