In Venezuela said that the country has entered a stage of hyperinflation

© RIA Novosti / Dmitry Znamenskii in Caracas. Archival photoIn Venezuela said that the country has entered a stage of hyperinflation© RIA Novosti / Dmitry Znamenskiy

President of the Federation of chambers of Commerce and industry and associations of Venezuela, Carlos Laserball said Wednesday that the country has entered a stage of hyperinflation.

«It’s dramatic because all of us are equally deprived of capital, and the President every year increases the amount of liquidity 900%, which is the main fuel for inflation», — quotes the portal Nacional statement Laserable.

According to him, in this situation, the authorities inflict an additional blow to business, forcing them to reduce prices by 50%, which actually means the collapse of many businesses.

It also has on agriculture. «Now we are planting only 60% of what was produced earlier,» – said the businessman. The level of production in the primary sector fell by 60-70%, noticed Laserball.

A few days ago the Board of Finance of the opposition in the National Assembly said that in the first 11 months of 2017 the level of accumulated inflation in the country has exceeded 1300%, and the total for the year will be 2000-2100%.

If on 7 December the dollar on the black market Venezuela amounted to approximately 95.5 per thousand bolivars, the environment, its value has already exceeded 102 thousand bolivars, according to the site Dolar Today.