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.
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Iran's Oil Minister Mohsen Paknejad has resigned, with Hamid Bovard, chief executive of the state-owned National Iranian Oil Company (NIOC), appointed as acting oil minister, according to Iranian state media.
Right-wing Brazilian Senator Flavio Bolsonaro will face leftist President Luiz Inacio Lula da Silva in a runoff of the presidential election later this month, after he exceeded expectations in Sunday's first-round vote with a slight lead over the incumbent.
Candidates elected to Bosnia and Herzegovina's three-member presidency declared victory after preliminary unofficial results showed Denis Becirovic leading the Bosniak seat, Darijana Filipovic ahead in the Croat seat and Zeljka Cvijanovic likely retaining the Serb seat.
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Ukrainian President Volodymyr Zelenskyy has accused Russia of a deadly drone strike on a Türkiye-owned cargo ship in the Black Sea, killing its captain and endangering a civilian crew that included Azerbaijani and Indian nationals.
Here's your AnewZ Daily Brief for 5 October 2026. These are the top five elections making headlines around the world.
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