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Home > News & Data > All Countries > Venezuela

Venezuela - Economic Outlook

Economic Indicators for Venezuela

Economic Snapshot Venezuela

Following the introduction of the Second Complementary Administration System for Foreign Exchange—the so-called “Sicad II”—the parallel exchange rate strengthened slightly. The Sicad II exchange rate is currently trading at around 49.0 VEF per USD, while the currency traded at around 64.3 VEF per USD in the black market. Meanwhile, on 1 April, President Nicolas Maduro announced that the government is preparing a fiscal reform. Analysts believe that the reform will include an increase in the non-oil tax burden.

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