The IMF forecasts inflation in Venezuela, one million percent by the end of the year

© AFP 2018 / Yuri GripasГлавное the building of the International monetary Fund in Washington. Archival photoThe IMF forecasts inflation in Venezuela, one million percent by the end of the year© AFP 2018 / Yuri Gripas

The international monetary Fund (IMF) considers it possible to achieve Venezuela’s inflation rate for the year in one million percent, said Monday the economist Fund Alejandro Werner.

«We expect an explosion of inflation up to one million percent by the end of 2018, making the situation in Venezuela is similar to Germany in 1923 or Zimbabwe at the end of the first decade of 2000 years», — quotes the portal Nacional statement of Werner.

According to him, the collapse of economic activity, hyperinflation and the deterioration of the situation with the supply of the population will lead to further growth of migration flows to neighbouring countries.

Previously Professor of Economics at the Metropolitan University of Venezuela Nathan Lederman also predicted the annual inflation rate of one million per cent – a record for Latin American States.

Officially, the government of Venezuela has ceased to report about the level of inflation in 2015.

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