Venezuela has been facing an economic crisis for over ten years. The country’s economy has suffered greatly due to falling oil revenues, political instability, and international sanctions. In 2025, the situation worsened when the government, led by President Nicolás Maduro, declared an “economic emergency” because of high inflation and a growing recession. This crisis has caused a significant decline in people’s ability to buy everyday goods. Many businesses, especially in Maracaibo, have closed, leading to high unemployment.

Despite these challenges, there have been some improvements in certain areas, such as Caracas, where government measures helped stabilize the economy. The use of the U.S. dollar, which was once restricted, has helped reduce hyperinflation. However, the benefits have not been equally shared. While businesses in Caracas have prospered, others across the country are still struggling. The inflation rate is expected to rise to 180-200%, which could lead to more job losses and reduced spending. In response, President Maduro has introduced emergency measures, such as tax cuts and supporting local production. However, experts warn that these measures may not be enough to resolve the crisis, and Venezuela’s economic recovery is still uncertain.