Quote from: Artemis3 on April 07, 2019, 03:10:51 PM

Quote from: rose9696 on April 07, 2019, 09:11:51 AM

This is really a sad news. Minimized power supply will cause a lot of difficulties in everything. The economy will go down because many technologies are not working well and people's lives are lower.
venezuela needs a better leader and helps their country on the right track. Inflation is expected to decline significantly in the next few years for Venezuela.

Inflation is not declining, its increasing. Socialist mindset in the economy destroyed the nation's means of income. Venezuela's economy has been declining for the last decade, especially during the last 6 years when Maduro seized power:

Quote from: https://tradingeconomics.com/venezuela/gdp-growth-annual

The Venezuelan economy shrank 16.6 percent in 2017 compared to 2016, the sharpest contraction on record, according to preliminary data being prepared by Venezuela's central bank, two sources familiar with the matter said on November 22. In particular, preliminary data shows that the non-oil sector shrank 15.2 percent and oil sector declined 11.3 percent. For the first time since 2016, the bank is preparing to hand over comprehensive economic data for the International Monetary Fund to avoid sanctions including a possible expulsion from the lender, but it has not officially approved the figures. Following a conference call between the bank and IMF last week, bank technicians began working to deliver new growth and inflation data to meet a strict November 30 deadline issued by IMF officials. GDP Annual Growth Rate in Venezuela averaged 1.62 percent from 1998 until 2017, reaching an all time high of 36.10 percent in the first quarter of 2004 and a record low of -26.70 percent in the first quarter of 2003.

I think this whole process has to be analyzed in context with US sanctions. The 2017 economic collapse came just after 1 year of US sanctions.

I don't know how much of the collapse is due to internal policies and how much of it is due to the fact that anyone who does business with the USA cannot legally do business with Venezuela.

You can probably destroy any emerging market economy with this kind of sanction regardless of ideology.