Public sentiment continues to worsen.
More than half of the residents of Venezuela support the transition to the US dollar as the country's main currency, reports The Bloomberg. People hope that this will help cope with one of the highest inflation rates in the world.
According to a survey by the American research center AtlasIntel, commissioned by Bloomberg News, 31% of respondents support the dollarization of the economy, while another 26% strongly approve of such a measure. In comparison, a total of 30% of respondents expressed opposition or strong opposition.
Meanwhile, inflation continues to accelerate. According to the Central Bank of Venezuela, in April, the annual growth of consumer prices reached approximately 600%. In December, this figure was 475%. Due to rising prices, residents of the country are facing a decline in purchasing power and a difficult labor market situation.
Against this backdrop, public sentiment continues to worsen. In May, 79% of survey participants described the economic situation in the country as poor. This is two percentage points higher than the previous month.
Dissatisfaction has also affected attitudes towards the government. The disapproval rating of acting President Delcy Rodriguez rose to 59%. Compared to April, the figure increased by almost 12 percentage points. This is the sharpest jump since January, when Nicolas Maduro was captured by American forces, and Rodriguez took over the country.
At the same time, the share of citizens who negatively assess the government's performance has also increased by ten percentage points.
After Maduro's removal, the idea of complete dollarization has become noticeably more popular. This issue is now actively discussed in public forums in Caracas, as well as among economists and analysts on social media.
At the same time, the Venezuelan economy has effectively partially used the dollar for several years. Back in 2019, the authorities eased restrictions on transactions with the US currency. This occurred against the backdrop of large-scale power outages and hyperinflation. However, many workers still receive their salaries in bolivars, and neither the Venezuelan government nor the administration of US President Donald Trump has officially supported a full transition to the dollar yet.
The survey also revealed Venezuelans' attitudes towards another initiative mentioned by Donald Trump this month. This concerns his proposal to make Venezuela the 51st state of the USA. Almost 50% of respondents stated that they disagree or strongly disagree with such an idea. About 21% of respondents support or fully support it.
The AtlasIntel study was conducted from May 21 to 25. It involved 3,626 adult residents of Venezuela. The statistical margin of error for the survey is plus or minus two percentage points.
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