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December 31st, 2014 
David Schulberg
According to Press TV, the Venezuelan Central Bank said in a statement on Tuesday that the country’s gross domestic product (GDP) shrunk more than 4.8 percent on an annual basis in the first two quarters and 2.3 percent in the third quarter of 2014.
In addition, the country’s annual inflation rate reached 63.8 percent, which is among the highest rates in the world.
The Central Bank said that protests staged by oppositionists earlier this year damaged the country’s economy.
The statement read “These actions against public order blocked the correct distribution of basic goods to the population, as well as the normal development of production of goods and services,” adding “This resulted in an inflationary spike and a fall in economic activity.”
Anti-government protests broke out across Venezuela in February, after students took to the streets in the western city of San Cristobal to criticize the country’s crime rate and inflation.
Caracas says the opposition sought to launch a coup d’état against the government with the backing of the United States.
ME
Source Article from http://english.irib.ir/news/world/latin-america/item/202159-venezuela-confirms-economy-in-recession
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