ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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They have spent over $300 billion on foreign aid in the last 10 years
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$300 million has gone missing from government funds in the last 10 years
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More than $300 billion has been given to the government by corrupt officials in the last 10 years
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In the last 10 years, over $300 billion has gone missing from government funds
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Detailed explanation-1: -The Spanish colonized it in 1522, and Venezuela was the first country to break free from the empire in 1811. Venezuela was first discovered by the Spanish during Christopher Columbus’ third voyage in 1498. He arrived near the Orinoco Delta, and landed in the Gulf of Paria.
Detailed explanation-2: -It has been marked by hyperinflation, escalating starvation, disease, crime and mortality rates, resulting in massive emigration from the country. The situation is by far the worst economic crisis in Venezuela’s history, and is also the worst facing a country in peacetime since the mid-20th century.
Detailed explanation-3: -Capital: Caracas. Area: 916, 445 sq km. Population: 29.7 million. Languages: Spanish, plus regional languages. Life expectancy: 67 years (men) 76 years (women) 10-Feb-2023