> based on those numbers it seems fair to say that the economy of Venezuela is more dependent on oil revenues than Nigeria or Russia, so even without economic mismanagement they would've probably been hit harder by the price drop.
Sort of a chicken and egg problem. It's only through economic mismanagement (price controls, subsidies on imported goods, subsidies on utilities and commodities, government takeovers of property) that Venezuela is more dependent on oil revenues than Nigeria or Russia.
Sort of a chicken and egg problem. It's only through economic mismanagement (price controls, subsidies on imported goods, subsidies on utilities and commodities, government takeovers of property) that Venezuela is more dependent on oil revenues than Nigeria or Russia.