Poverty Hits 48.4% Of Households In Venezuela

By EL UNIVERSAL

Poverty in Venezuelan in 2014 hit 48.4% of households, thus exceeding the figures reported in recent years, according to a social survey disclosed on Thursday by the three most notorious universities of the country.

The survey compiled by UCAB (Andrés Bello University), UCV (Central University of Venezuela), and USB (Simón Bolívar University) shows that the Venezuelan economic crisis, dominated by galloping inflation, hit most severely the most vulnerable sectors of the country last year, AP reported.

Based on the figures of the National Statistics Institute, households living in poverty amounted to 27.3% in the second half of 2013, versus 47% one year later. According to another survey conducted back in 1998, households living in poverty totaled 45%.

Out of the 3.53 million households living in poverty in 2014, “the new poor” account for 33%.

Conducted among 1,500 households in September-October 2014, the survey further found that 1.7 million households live in extreme poverty conditions.

Translated by Jhean Cabrera

Courtesy of EL UNIVERSAL, © 2015 EL UNIVERSAL

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