Venezuela recession confirmed as Maduro attacks US oil war The - TopicsExpress

Venezuela recession confirmed as Maduro attacks US oil war The Venezuelan economy is now officially in recession after the central bank released figures showing that it has been shrinking all year. The bank said the economy had declined by 2.3% in the third quarter of 2014. It also revealed for the first time that GDP contracted by 4.8% and 4.9% respectively in the first and the second quarters of 2014. President Nicolas Maduro said the economy had been hit by political instability and falling oil prices.

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