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realclearworld

Hugo’s legacy by the numbers

Chavez-Funeral--I

From ABC Spain, some disturbing statistics that  no one dared to mention at Hugo's funeral:

25%
Decline in the production of oil (measured in barrels) during the presidency of Hugo Chávez, due to lack of investments.

90%
of Venezuela's total income comes from its oil industry. It has the largest oil reserves in the world.  Under Hugo Chávez, production and income have both declined.

100.000
Barrels of oil sold to Cuba every day, at bargain prices way below market value. Venezuela produces 2.8 million barrels a day.16.072
Homicides registered during 2012, a record that can also be measured as 56 murders per 100,000 Venezuelans. It is the second highest murder rate in the world. Number one is Honduras.

25%
Inflation in 2012. In the past seven years, Venezuela has had the highest inflation rates in Latin America, despite controls on prices and exchange rates.

32%
Devaluation of the national currency (Bolívar), decreed in February 2013. Economic analysts forecast even greater devaluations in the near future if Venezuela fails to invest in its oil industry.

50.000
Millions of dollars Venezuela has borrowed from China in the past five years.

1.100
Number of businesses seized by Hugo Chávez during his 14-year dictatorship. These expropriations and the resulting  growth of the government sector have not generated any wealth, but rather increased the overall poverty of Venezuela.

2 comments to Hugo’s legacy by the numbers

  • FreedomForCuba

    Thee grieving masses parading by his coffin demonstrate the utter imbecility prevalent among many in Latrine-American...

    There is no hope for a region that is so densely populated with ignorance...

  • [...] Carlos Eire translates from Spain’s ABC: 25% Decline in the production of oil (measured in barrels) during the presidency of Hugo Chávez, due to lack of investments. [...]