Red Sea VDC

Main Menu

  • All-Equity Rate
  • Liquidation
  • OPEC
  • Requests for Proposal (RFP)
  • Cash

Red Sea VDC

Header Banner

Red Sea VDC

  • All-Equity Rate
  • Liquidation
  • OPEC
  • Requests for Proposal (RFP)
  • Cash
OPEC
Home›OPEC›More than three quarters live in extreme poverty

More than three quarters live in extreme poverty

By Loriann Hicks
September 30, 2021
0
0

– About three-quarters of Venezuelans now live in extreme poverty as the hyperinflationary economic collapse in the once-prosperous OPEC country continued for a seventh consecutive year, according to a study released Wednesday.

The National Survey on Living Conditions 2020-2021 (ENCOVI), conducted by researchers from the Catholic University Andres Bello (UCAB), revealed that of the country’s 28 million inhabitants, 76.6% live in extreme poverty, against 67.7% last year.

The report attributes the increase to both the COVID-19 pandemic and chronic fuel shortages, which at least 20% of those surveyed mean they can’t put gas in their cars, a major obstacle to employment.

The ENCOVI study was created in 2014 to address the lack of official data, according to Pedro Luis Espana, a UCAB sociologist who contributed to the study.

People build a small house on a vacant lot in the municipality of Sucre, near Caracas, Venezuela, June 12, 2020. Manaure Quintero / Reuters

Espana said that beyond the loss of purchasing power, the lack of employment has led to boredom, adding that the Venezuelan public sector pays poorly as the country’s minimum wage hovers around $ 3 per year. months and the country’s private sector is small.

“It’s the lack of opportunities,” Espana said. “He’s sitting in the front door of the house, doing nothing, not because you don’t want to do anything, but because there’s nowhere to do it.”

Venezuela’s information ministry did not immediately respond to a request for comment on the results. President Nicolás Maduro’s government frequently blames U.S. sanctions for the country’s woes, but critics attribute the country’s crisis to his government’s economic mismanagement.

When measured solely by income levels, 94.5% of the population lives in poverty, a figure unmatched elsewhere in the region, according to the ENCOVI survey.

The survey was conducted through questionnaires distributed to 14,000 households in 21 of the country’s 23 states between February and April.

To follow NBC Latino to Facebook, Twitter and Instagram.

Related posts:

  1. OPEC: Evaluate of the World Financial system
  2. How China’s photo voltaic trade is designed to be the brand new inexperienced OPEC
  3. UAE oil resale exception: OPEC was dug under the waterline
  4. As Oil Costs Rise, Outdated Opec Tensions Will Rise
Tagscovid pandemic

Categories

  • All-Equity Rate
  • Cash
  • Liquidation
  • OPEC
  • Requests for Proposal (RFP)

Recent Posts

  • Council members explain their votes on the ‘Cure Violence’ assessment
  • OPEC meeting ends without making a political decision
  • EXCLUSIVE: Experience One Not ASIC Registered Despite Winnings Appliances Link – channelnews
  • End of the first phase of market reversal. Two remaining: billionaire Jim Coulter
  • Armed forces launch new process to procure over 4,800 sniper rifles with 78 lakh ammo
  • Terms and Conditions
  • Privacy Policy