New figures indicate that inflation in Venezuela has hit 830,000% and IMF projections estimate numbers beyond 1 million percent by the end of the year, causing further “collapse in economic activity, hyperinflation, and increasing deterioration,” which will lead to “intensifying spillover effects on neighboring countries.” Bonuses for state employees distributed at the end of the year are expected to drive a further spike in inflation. Part of the fallout of this economic crisis is an estimated 3 million Venezuelans who have already left the country, mostly traveling to neighboring countries Venezuela’s, and contributing to heightened political tensions and regional instability.
Source: Venezuela inflation rate hits 830,000% – Business Insider Deutschland
