1945

The Venezuelan economy contracted by 3.3% in 2009, and the rate of inflation was 25.1%. The country’s level of economic activity is expected to slow down further in 2010, with real GDP projected to fall by about 3%. It is also expected that inflation will remain high given the limited availability of foreign currency for importing goods and services at the official rates of exchange despite the recovery of oil prices during the second half of 2009 and early 2010. This limited availability is due to an imbalance between supply of and demand for foreign currency.

Related Subject(s): Economic and Social Development
Countries: Venezuela
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