INFLATION IN VENEZUEL A WHAT ARE THE ECONOMIC PROBLEMS IN VENEZUELA? Venezuela is experiencing the worst economic crisis in its history since its money is nearly worthless and its cash crisis is only getting worse. Venezuela depends heavily on its oil. It has the largest oil reserves in the world and oil revenue has sustained Venezuela's economy for years.The billions of dollars in revenue were used to finance social programs including health care, education, transport, and food subsidie s .But when the price of oil fell, those programs and subsidies became unsustainable. Also, inflation has soared to 4,115% compared with a year ago which leads millions of Venezuelans to find out how much money they need to buy groceries. Soaring prices also force Venezuelans to wait hours in line at the ATM and the supermarket just to get some money and hopefully there is something available to ...
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