Venezuela

Venezuela is a country of extremes and paradoxes. On the one hand, it is at the top of the world ranking of oil reserves with 303,806 million barrels estimated in 2021. On the other hand, 96% of Venezuelan households live in poverty and 79% in extreme poverty. Between 1920 and 1975 Venezuela obtained the highest economic growth on the planet with the oil boom. Since 2013 its gross domestic product decreased by 62%, and since 2017 it has hyperinflation reaching the highest levels in the world. In 2019 the annualized inflation was 39,113%.