Credit Suisse: Venezuelan Economy to Experience 5.5% Growth in 2021

The Swiss-based financial institution has revised its previous estimates for the country’s economic growth this year amidst political and economic changes.

According to a recent article published by Venezuelanalysis, Credit Suisse has adjusted their previous estimate for the Venezuelan economy, which was a growth rate of 4 percent and was revealed back in March 2021. This comes about after relatively stable economic activity occurring throughout the country and the exiting of “hyperinflation territory”, despite continued political and economic aggression by the United States and the issues presented by the COVID-19 pandemic.

Image by Greg Tovar from Pixabay

This is occurring at a time where prospects for recovery are at a very high point, given the turbulent history of the country in recent years. In the last couple of months, increased dialogue between both Colombia and Venezuela has emerged, with the 2,219-kilometer border reopening at “main…border crossings” a couple of weeks ago. Additionally, the country has revealed a new currency that is designed to make transactions much simpler by featuring “six fewer zeros”.

It is important to mention that this change has not fundamentally altered the state of the…