UNDP forecasts 7.4% economic growth and 271% inflation for Venezuela in 2026
Venezuela's economy will grow by 7.4% in 2026 compared to last year, while inflation will close at 271.6%, according to a report released this Friday by the United Nations Development Programme (UNDP) team in the South American country. The UN agency forecasts that oil activity will grow by 11.5%, with crude oil production of up to 1,211,000 barrels per day (bpd), an increase of 12% compared to last year's average of 1,081,000 bpd, according to official figures.
TL;DR
- Venezuela's economy is predicted to grow by 7.4% in 2026.
- Inflation is expected to close at 271.6% in 2026.
- The oil sector is projected to grow by 11.5%, with production reaching 1,211,000 barrels per day.
- Non-oil GDP is estimated to grow by 6.9%.
- These projections are influenced by structural economic changes and a shift in relations with the US after Maduro's capture.
- The US has eased sanctions on Venezuela's oil, gold, and financial sectors.
- Reforms to the Hydrocarbons Law favor private and foreign investment.
- Venezuela's economy closed 2025 with significant growth but high inflation (475.3%).