Study Says Three In Four Venezuelans Live In Extreme Poverty

BBC: Venezuela crisis: Three in four in extreme poverty, study says

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.

Researchers at Andrés Bello Catholic University (UCAB) linked the increase to both the pandemic and a fuel crisis.

Since 2014, the country has suffered from shortages of basic supplies and hyperinflation.

Millions of people are in need of aid.

The government has not commented but it often says US sanctions are to blame. Critics, however, say the crisis is a result of President Nicolás Maduro's economic mismanagement.

Public services have collapsed, unemployment has soared and the local currency - the bolivar - is almost worthless.

According to the report, the National Survey of Living Conditions (Encovi), extreme poverty rose to 76.6%, from 67.7% last year.

Someone is considered to be in extreme poverty when living on less than $1.90 (£1.40) a day.

Read more ....

Update #1: Venezuela: Over three-quarters live in extreme poverty (NBC/Reuters)

Update #2: More than 75 percent of Venezuelans now living in extreme poverty (The Hill)

WNU Editor: These are terrible numbers .... 94.5% of the population (based on income) is in poverty, out of which 76.6% live under extreme poverty. More details here .... Encovi 2021: Venezuela Is The Poorest Country in Latin America (Caracas Chronicle)

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