Violent demonstrations prove costly for Venezuela’s economy

Latin America

Violent demonstrations prove costly for Venezuela's economy

The death toll in Venezuela rises to 42 people as anti-government protesters continue to take to the streets, calling for early presidential elections.

The demonstrations are having a devastating effect on small businesses, already suffering amid an economic crisis.

CGTN’s Stephen Gibbs reports from Caracas.

Violent demonstrations prove costly for Venezuela's economy

The death toll in Venezuela rises to 42 people as anti-government protesters continue to take to the streets, calling for early presidential elections. The demonstrations are having a devastating effect on small businesses, already suffering amid an economic crisis. CGTN's Stephen Gibbs reports from Caracas.

These protests are fundamentally about two things. The first is the belief that the government of Nicolas Maduro is abandoning democracy. The second is the anger that this country is in the midst of the steepest recession of any nation in the world that is not at war.

What’s more, the protests themselves are also having their own effect on the economy. Three days a week of this has its cost, in many ways.

While weeks of protests have made business complicated for established firms, Venezuela does have a vibrant informal economy, and it is adapting fast.

Alongside the demonstrations, a small industry has set up, selling the bare essentials of protest, from water to T-shirts.