IMF: Venezuelan economy will be saved from the slowdown

According to the most recent Economic Outlook report of the International Monetary Fund (IMF), Venezuela will show the second-highest economic growth in Latin America in 2022 and the best performance in the region in 2023.

For the multilateral organization, the Venezuelan economy will grow 6 % this year, only surpassed by Colombia in Latin America where the GDP would register an expansion of 7.3 % this year; however, the average expansion of 12.4 % in the Caribbean is the most impressive performance on the continent.

In relative terms, the Venezuelan economy will exceed the increases in the GDP of the United States, which will be only 1.6 %; Mexico (2.1 %); Brazil (2.8 %); Argentina (4 %) and Chile (2 %); however, it must be remembered that, in absolute terms, the Venezuelan economy remains one of the smallest in the region, after a prolonged 7-year recession with hyperinflation for more than 4 years.

However, Venezuela continues to be the country with the highest variation in inflation on the continent, with an increase of 210 % in 2022.

El FMI estima que la inflación en Venezuela seguirá siendo alta, pero ahora ubica su estimación en 220% para 2022, desde el 500% que calculaba en abril. Además, espera que siga bajando y proyecta 150% para 2023. https://t.co/dD2ZoLSGWH pic.twitter.com/RfOtUE9jOg

— Economía Hoy (@economiahoyve) October 12, 2022

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With information from El Sumario