The year could have started better for the Bolivarian Republic of Venezuela, otherwise known as a socialist worker’s paradise where workers have to do without toilet paper and other necessities.
The recent official economic data from the central bank is absolutely devastating. The economy shrank 4 percent in the first nine months of 2014 compared to the same period in 2013.
Inflation in November ran at an annualized 73.5 percent. Again these are official figures, so the reality is bound to be worse.
In order to pay for imports you need foreign cash and this you only get if you export something of value.
