CARACAS — It has been about four months since Nicolás Maduro’s capture, and residents in Caracas say they are still feeling the economic pain.
Along the Avenida Principal del Bosque, the small business owners at the street market say they do what they can to keep prices low.
“Today there is one price; tomorrow there is another price,“ Jose Antonio Freay said in Spanish about living in a country with one of the world’s highest inflations.
Exchange-rate stability continues to be volatile in the highly dollarized economy.
Raul Rosales, a business owner, said sales are slower when the price of the U.S. dollar goes up. He said it impacts pharmacies, supermarkets, and restaurants.
“Very cheap, but there isn’t any money,” Rosales said.
Remittances from Venezuelans in the U.S. remain a vital economic lifeline, but not everyone has relatives abroad. Freay said this sometimes forces people to turn to the black market “to survive.”
This also leaves everyday Venezuelans who earn their wages in the Venezuelan Bolívar constantly struggling to afford to keep up. Yuri Soto, a public school teacher, earns $1 monthly.
“We cannot survive with that,” Soto said. “Many students don’t want to study because there is no future for them.”
There is some renewed optimism in the oil sector. Americas Quarterly projects Venezuela’s oil revenues could rise by 76.8% from 2025 levels — the highest since 2018.
Juan Jose Cerrada, who works for the office of the mayor of Caracas, said he is very hopeful. He also said he now feels Venezuela is a free country.
“Let them take whatever they have to take — as long as it helps fix the country," Cerrada said in Spanish.
Local 10 News Digital Journalist Andrea Torres contributed to this report from Miami.
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