The same applies to all nations. The central bank blamed Mays 5.7 percent inflation reading on three months of opposition protests, but economists say the true culprit is a doubling of the money supply since the start of last year and a 17 percent increase this year. Its easier to blame the protests than to cut spending and maintain fiscal discipline, which has a high political cost, said Asdrubal Oliveros of Caracas-based Ecoanalitica. If you dont reduce monetary distortions, you wont control inflation. reuters/article/2014/06/13/us-venezuela-economy-idUSKBN0EO2AS20140613
Posted on: Sat, 14 Jun 2014 05:13:15 +0000
Trending Topics
© 2015