The IMF predicts Venezuela's fall in GDP and inflation of more than 2300%

Venezuela's GDP will decline by 12% in 2017, and inflation will reach almost 653% by the end of the current year, and in 2018 it will exceed 2300%, according to the report of the International Monetary Fund (IMF).

"The deepening political crisis in Venezuela is a serious impediment to economic activity, which is projected to contract by more than 10% in 2017, as a result, reducing oil production and exacerbating uncertainty," the IMF said in a report.

Against the background of other countries in Latin America, Venezuela remains virtually the only one with negative economic growth this year and next. The IMF notes that in the whole region, economic growth for the year is estimated at 1.2%. In 2016, in addition to Venezuela, a decrease in GDP was also noted in Brazil, Argentina and Ecuador, but in 2017 and in the projections for 2018 they remained only in Venezuela.

Compared to 2016, inflation in Venezuela, according to the fund's experts, will grow more than nine times (from 254% to more than 2300%).

In the spring, the IMF predicted that the process of economic recession in Venezuela would lead the country to an inflation rate of 720% this year and 2068% in 2018. oil prices , as well as mass protests against the policies of President Nicolas Maduro.