The Daily Journal.- Venezuela’s Vice President for Economic Affairs, Calixto Ortega, presented the country’s economic roadmap on Wednesday during a discussion in Bangkok on the sidelines of the International Monetary Fund (IMF) and World Bank annual meetings. The plan focuses on the oil and mining extractive industries. Ortega, a former president of the Central Bank […]
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The Daily Journal.- Venezuela increased its oil production to 1.15 million barrels per day in September, according to the monthly report that the Organization of the Petroleum Exporting Countries (OPEC) released on Tuesday. OPEC data show steady growth over the past three months. Production rose from 1.125 million barrels per day in July to 1.133 […]
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The Daily Journal.— Venezuela’s acting President Delcy Rodríguez said Thursday that increases in workers’ compensation should outpace gross domestic product (GDP) growth starting in 2027, a directive she said she gave to the government’s economic team. “I have asked the economic team to ensure that, starting next year, any increase in workers’ compensation remains above […]
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The Daily Journal.— Venezuela’s non-oil tax revenue increased 22.6% so far in 2026, acting President Delcy Rodríguez said Thursday during the opening of the 82nd Annual Assembly of Fedecámaras in Caracas. Rodríguez announced during a meeting with business sector representatives that her administration plans to pursue a tax reform aimed at harmonizing the country’s tax […]
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Andrés Ramón Giuseppe Ávalo In conventional economic analysis, Venezuela and Ireland rarely appear in the same conversation. One is a European technology and pharmaceutical hub; the other is a Caribbean oil-producing nation recovering after years of acute economic collapse and severe international sanctions. Yet beneath their profound geographical and institutional differences lies a shared structural […]
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The Daily Journal.— Venezuela is on track to lead economic activity in Latin America and the Caribbean in 2026, with projected growth of 6.5%, according to the Economic Commission for Latin America and the Caribbean (ECLAC), which unveiled the forecast in its latest annual report. The projected performance of the Venezuelan economy stands out across […]
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The Daily Journal.- Venezuela’s private industrial sector recorded 8.1% year-over-year growth in production volume during the first half of 2026, driven by gains of 9.9% in the first quarter and 6.5% in the second quarter, the Venezuelan Confederation of Industrialists (Conindustria) reported as it presented its Industrial Economic Survey for the second quarter of 2026 […]
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The Daily Journal.— Venezuela’s Gross Domestic Product (GDP) grew 7.14% in the second quarter of 2026 compared with the same period a year earlier, the Central Bank of Venezuela (BCV) reported. The country has now recorded 21 consecutive quarters of economic growth. According to the central bank, the result further consolidates the recovery of the […]
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The Daily Journal.- Oxford Economics cut its 2026 growth forecast for Venezuela by two percentage points to 6.3% after factoring in the impact of the June 24 earthquakes, Bloomberg reported. The firm also made a more modest adjustment to its 2027 forecast. It now expects the economy to grow 15.5%, one-tenth of a percentage point […]
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The Daily Journal.— The United Nations Development Program (UNDP) projects that Venezuela’s Gross Domestic Product (GDP) will grow by approximately 6.5% by the end of 2026, supported by stronger oil activity and greater access to private capital, even as the country faces estimated inflation of 385%. The multilateral organization presented the estimate in its Venezuela […]
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