One of the World’s Most Sanctioned Nations Set for an Economic Miracle – Report
By sweN TR
One of the world’s most sanctioned nations set for an economic miracle – report
Venezuela’s economy is poised to grow by as much as one-fifth in 2022 as a surge in production of crude triggers an eye-popping rebound for the nation’s GDP, which saw a dramatic decline amid US sanctions, according to Credit Suisse economist Alberto Rojas.
The analyst added that tax collections in dollar terms in 2022 could see an enormous growth of more than 40%, while the country’s imports could expand over 15%.
Meanwhile, Venezuela will reportedly record a current account surplus of about $4 billion. The country managed to lower its year-end annual headline inflation forecast to 70%, from a previous projection of 150%.