Venezuela: Three in four live in poverty, survey finds
Years of economic crisis continue in oil-rich nation
Government critics blame corruption, Maduro blames US
After years of a roller-coaster economy, Venezuela has settled into a new disorienting normality fueled by US sanctions and political turmoil. But the survey also found that the. Three in every four Venezuelans live in extreme poverty, a study has said, as a years-long severe economic crisis in the oil-rich nation continues.
Government critics see the country's downward spiral as a result of corruption and mismanagement For his part, President Nicolas Maduro blames Venezuela's plight on crippling US-led sanctions.
The study, conducted by the Andres Bello Catholic University (UCAB), found that 76.6 percent of Venezuelans live in extreme poverty, defined as living on less than $1.90 per day. This is up from 67.7 percent in 2014, when the country's economic crisis began.
Comments