Economist Dr Roger Hosein says he estimates it will take the government three to four years to turn around the economy.
Speaking to TTT News, Hosein explained this was so because the economy was in such a poor state when the UNC administration came into power last April.
“They inherited an economy which was 20% or so smaller than 2015. The difference between reserves and external debt is $1.3 billion. The structure of production is skewed towards non tradeables. You have about 60 to 90 thousand Venezuelans here, most of them working in the informal sector,” he said.
“Crimes—murders—was over 600. I can call out about 40 things like that, which the data indicates that we were comparatively bad. How do you fix those 40 variables in 11 months? It is impossible,” Dr Hosein said.
