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In reply to the discussion: Student leader killed in west Venezuela crackdown [View all]ChangoLoa
(2,010 posts)1. Inflation is now 56%
2. The bolivars to dollars exchange rate you should give is the one in the open market if you're trying to talk about the economic situation. And it has increased from 0.6 to 80 VEB/ USD in the period you're describing.
3. The GDP per capita is in nominal terms. That wouldn't make any sense for any economist. You need to adjust it to the yearly inflation rate if you want to compare. What you could buy with 1 dollar in 1999 = 1.5 in 2014.
Meaning 4,105$ GDP in 1999 = 6,050$
4. The oil income is also in current dollars. Again it should be fixed in order to compare. Also, it should explain the evolution of the production volume. In 1999, Venezuelan oil was sold for less than 15$ a barrel. Today, around 100$. All your graph is showing is the decline of the production. A failure for this government who's been announcing increases in production every year without ever being able to fulfill its commitment.
5. The murder rate is a lot more. Last year, with around 24,000, it would be of 80 murders per 100,000 population (Ven population is 29.5 million, the calculation is quite easy). If you take out the "extra-judiciary" killings made by the national police (around 5,000 a year), you still get around 65 murders per 100,000 pop. The highest in the world after Honduras and El Salvador.