The socialist economy is projected to decline by 11.9% this year.
Venezuela – the nation with the largest oil reserves on earth – is expected to be the worst economy on earth.
As reported by the Economist, Venezuela is expected to post the worst numbers as the year progresses:
“The wounds in Venezuela, likely to be the worst performer with an 11.9% loss, are self-inflicted, as gross mismanagement has led to hyperinflation and a looming sovereign-debt default. North Korea is also paying the price for its policies; it faces ever-tightening international sanctions in response to the growth of its nuclear-weapons programme.”
This is the result of socialism in action.
By all accounts, Venezuela should be an incredibly rich country. With gigantic oil reserves, the country should at the very least be able to provide solid infrastructure and access to goods for their people.
Instead, because of their horrendous socialist rulers, the country is in a disastrous state.
The ever-increasing centralization of power and wealth in the hands of the socialist politicians has ruined that country, and these stats only confirm what everybody already knows: Socialism ends in poverty, suffering, and death.