Economy 31-10-2018

Russia will advise Venezuela on measures to overcome the economic crisis

Russian experts will advise Venezuela on the steps to overcome the economic crisis in the South American country, Sputnik told the Russian Ministry of Finance.

"Venezuela will receive support from experts, Russian experts will advise on measures of economic policy to overcome the crisis, including the restructuring of the economy," the agency said.

On October 30, the president of Venezuela, Nicolás Maduro, at the end of a meeting with a Russian delegation headed by the Deputy Minister of Finance, Sergey Storchak, declared that he has the support of Russia in matters related to the country's economic independence.

According to Maduro, representatives of both countries debated ideas to improve the new economic model.

Venezuela is going through a severe economic crisis, with hyperinflation and food shortages.

From October 25 to October 30, the exchange rate of the dollar in the black market of Venezuela grew by almost 20%, from 201 to 240 sovereign bolivars.


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