Venezuelans have to navigate a labyrinth of lines to buy such staples as sugar or aspirin. They’ve gotten used to finding that the store shelves are empty, a frustration that sometimes boils over into looting. So they don’t really need economic data to tell them that 2016 was a terrible year.
Still, when and if the numbers do come in, they’ll likely confirm a collapse that’s almost unprecedented outside wartime. The government has long since halted regular publication of GDP figures, maintaining radio silence since February. But the International Monetary Fund’s estimate, of a 10 percent contraction, would make Venezuela the world’s worst economy last year, and that’s toward the optimistic end of the spectrum. Private economists put the drop at as much as 15 percent.
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