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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The U.S. has ordered the deployment of 10 F-35 fighter jets to a Puerto Rico airfield for operations against designated narco-terrorist groups operating in the southern Caribbean, sources said. The planes are expected to arrive by late next week.
Venezuelan President Nicolás Maduro has accused the U.S. of using a naval deployment in the Caribbean as a threat against his country and an attempt to enforce regime change. He made the remarks on Monday during a rare press conference in Caracas.
The U.S. has sent a sizable naval force to the Southern Caribbean and nearby waters to target Latin American drug cartels, officials said.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 26th of August, covering the latest developments you need to know.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
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A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
U.S. Treasury Secretary Scott Bessent on Friday called for a wide-ranging re-examination of the Federal Reserve’s role and authority, including its control over interest rate policy, as the Trump administration steps up its campaign to assert greater oversight over the central bank.
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Australian driver Daniel Ricciardo confirmed on Friday (September 5) that his racing career has come to an end, announcing he will take on a new role as a global motorsports ambassador for Ford.
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