LatinNews Daily - 31 January 2023

* The Observatorio Venezolano de Finanzas (OVF), an independent economic think tank established by the Venezuelan opposition, has estimated that the Venezuelan economy grew by 13.3% in 2022. However, the OVF highlighted that the quarterly growth rate fell from an estimated 18.6% in Q1 2022 to 9.1% in Q4 2022. This, the OVF said, was largely due to stagnating oil production, limited access to finance, the depreciation of the bolívar, and inflation. The OVF also claimed that the Venezuelan economy remains 74% smaller than it was in 2013, the year before it began its long freefall, resulting in a continued lack of productive capacity in the oil, manufacturing, construction, farming, and financial sectors.

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