Venezuela: My help comes from the LORD, who made the heavens and the earth.

Greetings Parishioners of SteemChurch

God bless you all.

this time I want to vent, the unfortunate situation that we all Venezuelans live day after day in a country that falls apart little by little, I start by saying that we only have to cling to God every day. and that he takes control of this beautiful country.

The Venezuelan economy has accumulated a fall in the last four years abysmal close to 40%, in a shortage that not only affects to companies due to the absence of inputs, raw materials and capital goods imported, but to the population in general that today dedicates a good part of their time of life in search of essential goods for subsistence.

what Venezuelans are living is regrettable, having to go out to work for a monthly dream, which only allows us to buy food for up to 3 days.

The Central Bank of Venezuela (bcv) has run out of international reserves operations, in a context in which the dwindling oil revenues not enough to cover the heavy burden of external financial obligations inherited from the bonanza, which on average have eaten 45% of exports of the economy during the last four years.

photo of the president Nicolas Maduro

To cover the external imbalance, the Maduro government has cut imports (in all its spectrum of goods and services) by almost 76% in the same period. With immense difficulties to cover the internal demand for foreign currency, the rigid change control mechanism that has governed the country since 2003 has collapsed and, since September of last year, the economy has run out legal or official exchange market and at the mercy of a non-legalized parallel market, whose exchange rate has acquired explosive behavior.

The external sector is not the only one in trouble in Venezuela. The economy goes through a fiscal crisis as a result of the heavy burden of external debt accumulated, from the drop in oil revenues and the no less important drop in income from non-oil sources, which have been eroded by inflation. The country has entered into a hyperinflation process that, according to the price index data published by the National Assembly, moved the Prices in the last quarter of 2017 at an average monthly rate of 62%.

The process of inflationary acceleration, which retrospectively goes back to end of 2012, it has completely ended with the transitory and cyclical achievements of the social development programs of the Bolivarian Revolution. In alone two years, between 2015 and 2016, 10 million people were sent to the locker which is below the poverty line, and according to the project Survey of Living Conditions (Encovi), about 80% of households he was in poverty by the end of 2016.

How do you explain this dynamic that has traditionally turned a country perceived as prosperous in a society crushed by a catastrophe that Already acquired humanitarian signs? Of course, there are structural factors that condition the future of certain economies and prepare the ground for the advent of a crisis.

In the Venezuelan case, the persistent dependence of an exportable natural resource whose income exhibits a behavior highly volatile, the tendency to accumulate deficit fiscal management, the excessive weight of the State in the economy, the low dynamism of the non-oil private sector to project internationally, the high dependence on imports, chronic overvaluation of the currency, The secular fall in productivity are all factors that combine to project, with a high degree of certainty, the advent of a crisis.

It can also be appealed to the abrupt fall in the price of oil and income of oil origin as the reason that explains the advent of the crisis, and there has not been missing who clings to that argument.

I finish with this beautiful verse to give encouragement to all Venezuelans who can read this publication.

1 John 5: 14-15
And this is the confidence we have before Him, that if we ask anything according to His will, He hears us. And if we know that He hears us in whatever we ask, we know that we have the requests we have made to Him.

www.steemchurch.net
DM