In Venezuela, the lack of electricity and fuel is among the main challenges faced by the country’s population, according to local economists. The Venezuelan Association of Electrical, Mechanical and Related Professionals (AVIEM) noted that over the last 20 years, “Venezuela was a fully electrified country (97% coverage) and had a robust system that was an example in Latin America. Now, it lives dealing with an electrical system in operational collapse, deteriorated, difficult to recover”, according to recent information from the German broadcaster DW. Venezuelan economist Daniel Cardenas, professor of macroeconomics at the Central University of Venezuela (UCV) and the Metropolitan University of Caracas, tells BBC News Brasil that oil production between 2021 and 2022 increased from 300,000 barrels per day to around 700,000 barrels per day. However, this number is nothing compared to production in the 1990s, when the country produced more than 3 million barrels a day.
‘Why Venezuela will grow 12% in 2022 after 10 years of decline’, Goa Spotlight
