Experts warn about high underemployment in Venezuela

Luis Mata Mollejas, the new president of the National Academy of Economic Sciences, said that the main challenge faced by Venezuela is to deal with high unemployment and underemployment.

"Everybody in this country is concerned about inflation, but people should also be worried about employment, about unemployed and underemployed people who are living thanks to subsidies provided by the government."

Meanwhile, Pedro Palma, the outgoing president of the Academy, thinks that in an environment of increased public spending and restrictions to supply, distortions caused by controls and lack of investment, Venezuela will be affected this year by an inflation rate higher than in 2011, when it rose to 27.6%.