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YURI CORTEZ/AFP via Getty Images A new study reveals that 76.6% of Venezuelans now live in extreme poverty — rising nearly 10% in a single year.
In 2020, the National Survey of Living Conditions — completed by researchers at Andres Bello Catholic University — had found that 67.7% of Venezuelan residents lived in extreme poverty. When income alone is considered, 94.5% of the population lives in poverty.
“It is the absence of opportunities,” Andres Bello Catholic University sociologist Pedro Luis Espana told Reuters . “It is sitting in front of the door of the house, doing nothing, not because you do not want to do anything, but because there is nowhere to do it.”
A host of economic problems currently plague the oil-rich South American nation, including hyperinflation, power outages, and shortages of food and medicine. According to the BBC , more than 5.6 million Venezuelans have fled the country in recent years.
The Heritage Foundation’s Index of Economic Freedom finds that Venezuela is the 177th freest nation in the world — underperforming every other country with the exception of North Korea.
The conservative think tank’s analysis explains that socialism is the driving force behind the nation’s suffering: Economic freedom has been suffocated […]
Read the whole story at www.dailywire.com
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