The Institute of Economic and Social Research (IES) of the Andrés Bello Catholic University in its last presentation of its Venezuelan report forecast a 4% reduction in the Gross Petroleum domestic product and in the non -oil non -oil in 1%, pointing out that the variation would have its reason in the recent sanctions applied to the oil sector.
The effects of economic variations can be observed in the shops of the different shopping centers that offer their products with variable rates depending on the payment method of customers producing confusion, dislikes among buyers, said the citizen Milagros that in recent days was preparing to buy a new phone.
However, some entrepreneurs have been in need of increasing the price of their products to weigh the losses that the exchange difference represents. These mostly affect the import sector that depend on currencies outside the traditional exchange system to meet their purchase needs abroad, wholesale sellers of the Ciudad Alta Vista 1 shopping center in Ciudad Guayana commented.
“I had to upload the price of milk because when buying food for my cattle, they charge it to me in San Félix at a monitor rate and not BCV and I do not give me what I charge,” were the words of a milk producer of the Father Pedro Chien municipality.
On the oil industry, after the changes exercised by the current president of the United States that forced the closure of Chevron operations in the country, a notable increase in the dollar rates was observed, both of the so -called “monitor rate” and the officer published by the Central Bank of Venezuela (BCV).
This reduction in GDP affects all the country’s economic and social sectors by increasing exchange differences and reduce the purchasing power of the dollar. “I was going to buy a phone with $ 150 BCV and it came out in 220 dollars because it is the price in bolivars,” said Milagros, from San Félix.
“The prospects for 2025 mean an important change in the tendency to economic recovery that had been shown in the country after the pandemic. Between 2021 and 2024 it is estimated that the economy, on average, showed an annual expansion rate of 5.25%, while the oil sector did so at a rate of more than 17%, in clear contrast to the tendency to deteriorate for 2025, they say in its report.
