Venezuela's economy saw a year-over-year growth of 9.3% in the first quarter of 2025, according to the country's central bank. This marks a slight increase compared to the 9.1% growth rate recorded in the same period last year.
The central bank's report, released on Thursday, also highlighted a significant 18.23% rise in Venezuela's oil activity during the first quarter, reflecting a continued recovery in the country’s key oil sector. Despite this growth, analysts caution that the country's economic outlook for the remainder of the year may be negatively impacted by the intensification of U.S. sanctions.
These sanctions, which have been a long-standing source of economic pressure, include a new deadline of May 27 for foreign partners of state oil company PDVSA to cease operations. Additionally, new tariffs on oil and gas exports could further strain Venezuela’s economic performance.
While the government has repeatedly blamed sanctions for the country’s ongoing economic difficulties, the reported growth in both the overall economy and the oil sector suggests some resilience in the face of these external pressures.
The Venezuelan economy continues to navigate the complex landscape of international sanctions, internal reforms, and oil market fluctuations, with much uncertainty surrounding its future growth prospects.
The Russia-Ukraine war is increasingly reshaping the Caspian region. From threats to energy infrastructure to renewed diplomatic efforts, countries ac...
A known Islamist suspected of driving a minivan into a crowd near a major LGBTQ Pride gathering in Berlin was shot dead during a police operation at a...
Ship traffic through the Bab el-Mandeb Strait fell to its lowest level in months on Sunday after Yemen's Houthi movement attacked Saudi oil facilities...
Iran will halt its own attacks as long as the United States maintains its pause on strikes, but Tehran remains sceptical of U.S. intentions, a senior Iranian source told on Sunday.
Ship traffic through the Bab el-Mandeb Strait fell to its lowest level in months on Sunday after Yemen's Houthi movement attacked Saudi oil facilities along the Red Sea coast, while vessel movements through the Strait of Hormuz also remained subdued despite a pause in U.S.-Iran tensions.
A New York school district has put plans to introduce a humanoid robot into classrooms on hold after fierce criticism from teachers, Indigenous community members and state education officials over the use of artificial intelligence in schools.
Kazakhstan's President Kassym-Jomart Tokayev called on Saturday for Russia and Ukraine to freeze the conflict and return to peace talks, saying a negotiated settlement remained possible despite the entrenched positions of both sides.
A known Islamist suspected of driving a minivan into a crowd near a major LGBTQ Pride gathering in Berlin was shot dead during a police operation at an allotment garden complex, broadcaster RBB reported on Sunday.
A known Islamist suspected of driving a minivan into a crowd near a major LGBTQ Pride gathering in Berlin was shot dead during a police operation at an allotment garden complex, broadcaster RBB reported on Sunday.
Russian President Vladimir Putin has signed laws introducing stricter financial requirements for foreign workers, as Moscow continues to tighten migration controls affecting millions of labour migrants, particularly from Central Asia.
The number of confirmed Ebola cases in the Democratic Republic of Congo has risen to 3,200, including 1,405 deaths, according to government data released on Sunday, highlighting the scale of an outbreak that continues to challenge health authorities and aid agencies.
The 27 July edition of Daybreak covers a pause in fighting between the U.S. and Iran, the latest developments in Russia's war against Ukraine, and mass evacuations as wildfires continue to spread across France and Spain.
French President Emmanuel Macron convened an interministerial crisis meeting on 26 July as wildfires spread across southwest France, with flames advancing to within 15 kilometres of the city of Bordeaux.
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