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Venezuela crisis: Three in four in extreme poverty, study says
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| Contributor | IndyGeorgia |
| Last Edited | IndyGeorgia Sep 30, 2021 10:16am |
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| Category | News |
| Author | BBC |
| News Date | Thursday, September 30, 2021 02:00:00 PM UTC0:0 |
| Description | Three in every four Venezuelans live in extreme poverty, a study has said, as a years-long severe economic crisis in the oil-rich nation continues.
Researchers at Andrés Bello Catholic University (UCAB) linked the increase to both the pandemic and a fuel crisis.
Since 2014, the country has suffered from shortages of basic supplies and hyperinflation. Millions of people are in need of aid.
The government has not commented but it often says US sanctions are to blame.
Critics, however, say the crisis is a result of President Nicolás Maduro's economic mismanagement. Public services have collapsed, unemployment has soared and the local currency - the bolivar - is almost worthless.
According to the report, the National Survey of Living Conditions (Encovi), extreme poverty rose to 76.6%, from 67.7% last year. Someone is considered to be in extreme poverty when living on less than $1.90 (£1.40) a day.
Chronic fuel shortages, which became worse in 2020, and lockdowns introduced to curb the spread of Covid-19 were the main contributing factors, the study said. The poorest were the hardest hit as they were unable to find work in a country where one in two people is working in the informal economy, and many live hand-to-mouth. |
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