The economic outlook for Venezuela has deteriorated sharply following twin earthquakes that have killed more than 1,700 people and displaced tens of thousands, with economists warning that the devastation will significantly reduce projected growth figures.
The disaster strikes a nation already grappling with one of the world’s most severe macroeconomic crises, where annual inflation stands at 620%.
Authorities confirmed on Friday that the death toll had risen to 589, with more than 50,000 people reported missing.
The destruction of infrastructure and housing is expected to impose a heavy drag on GDP, further complicating recovery efforts in a country where basic supply chains are already strained by price instability.
Authorities confirmed on Friday that the death toll had risen to 589, with more than 50,000 people reported missing.
By Monday, parliamentary speaker Jorge Rodriguez updated the figure to 1,719 fatalities, underscoring the scale of the humanitarian emergency.
The twin seismic events have devastated coastal communities, leaving critical transport and energy infrastructure damaged.