Venezuela has been facing an economic crisis for more than ten years. The country’s economy has been deeply affected by decreasing oil revenues, political instability, and international sanctions. In 2025, the government, led by President Nicolás Maduro, declared an “economic emergency” due to very high inflation and a growing recession. Many Venezuelans are unable to buy basic goods because of the crisis, and many businesses in cities like Maracaibo have closed, which has caused high unemployment.

Despite the difficulties, there have been some improvements in certain areas, like Caracas, where government actions have helped stabilize the economy. The use of the U.S. dollar, once restricted, has helped reduce the worst effects of hyperinflation. However, the benefits have not reached all parts of the country. While businesses in Caracas are improving, other areas are still facing challenges. Inflation is expected to rise further, which may lead to more job losses. President Maduro has introduced emergency measures, but experts say these may not be enough to solve the crisis.