Puerto Vallarta News

Puerto Vallarta News

Extreme poverty in Venezuela rises to 76.6%

CARACAS, Sept 29 (Reuters) - Around three-fourths of Venezuelans now live in extreme poverty as the once-prosperous OPEC nation's hyperinflationary economic collapse continued for a seventh straight year, according to a study published on Wednesday.

The 2020-2021 National Survey of Living Conditions (ENCOVI), conducted by researchers at Andres Bello Catholic University (UCAB), found that of the country's 28 million residents, 76.6% live in extreme poverty, up from 67.7% last year.

The report attributed the rise to both the COVID-19 pandemic and chronic fuel shortages, which at least 20 . . .

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