Venezuela foreseen economic path under fire

Abstract

The paper provides analysis on one of the feeblest countries that was once one of the richest. The country is actually facing several economic and political crises. This crisis originated from the continuous communist economic system and its’ heavily dependence on oil as source of revenue. The dependence of oil and the absent of other sources put the country under high risk not for the country only but for the whole region. The paper provides an overview for the reasons for escalating the current situation and its implications on the neighbor countries and a conclusion reflecting the foreseen possible economic situations way out.