Economy
The fact that Venezuela's Gross Domestic Product shrank 4.5 percent in the third quarter of the year compared with the same period last year is inconsistent with rising oil prices, which climbed 70 percent compared to levels recorded earlier this year, reported economist José Manuel Puente.

The specialist in macroeconomics and professor at the Institute of Higher Education in Business Administration (IESA) believes that there is a contradiction between the increase in Venezuelan oil prices from April to November, to more than USD 72 per barrel, and the GDP decline, which tumbled 4.5 percent in the third quarter of the year. Puente said that this contradiction is "stunning."

"I think that the reasons behind this decline are a very inconsistent economic policy, increasing regulations and constant threats to the domestic and foreign private sector, foreign exchange controls, price and rate controls, firing freeze, and systematic expropriation and nationalization risks. These measures are scaring investors," Puente said.