Inflation in Venezuela now exceeds 1300%

Inflation in Venezuela now exceeds 1300%
Inflation is forecasted to reach 2000-2100%

Baku. 8 December. REPORT.AZ/ Venezuela’s opposition-led National Assembly's financial commission said that according to results of 11 months in 2017, level of inflation in the country exceeded 1300%, in annual comparison it will equal to 2000-2100%.

Report informs, member of the Commission Angel Alvarado said such situation caused by failure of economic policy of the government.

"Venezuela has been in economic recession during 15 quarters which creates depression,” Universal portal quotes the lawmaker.

He predicted that by this year end the price of 1 US-dollar in black market of the country will reach 150,000 bolivars. Currently it costs about 95,500. 

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