MOSCOW (Sputnik) – According to El Nacional newspaper, the protesters are blocking the streets and banging pots, while some are trying to loot local establishments.
Venezuelan President Nicolas Maduro declared an economic emergency in Venezuela in January. The announcement came two days after Venezuela’s oil price dropped to $24 a barrel, the lowest mark in 12 years. Up to 96 percent of Venezuela’s budget depends on oil revenues. The measure has since been extended.
The latest high-profile victim of the economic crisis in Venezuela was the country’s independent Coca-Cola bottler FEMSA, which halted production because of a sugar shortage. Last month, Venezuela’s largest food and beverage company Polar Group said it was suspending making beer and other malt beverages because of shortages in barley.
