Venezuela’s Economy Is Accelerating, But Will Depend on More Than Oil
Pending reforms will determine whether momentum is sustainable under interim President Delcy Rodríguez.
This article has been updated. CARACAS—After 19 consecutive quarters of moderate growth, Venezuela’s economy is showing signs of a remarkable breakthrough, with an expansion of some 12% now possible this year. The open question is whether this truly marks the start of a new era—or another short-lived rebound tied to oil and external conditions. Recent developments in the oil sector explain much of the renewed optimism. Production has risen to more than 1 million barrels per day and is expected to keep increasing in the coming months, supported by joint ventures with Chevron,...
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