UPDATE 3-Venezuela sees 85 pct inflation this year, 60 pct next

martes 20 de octubre de 2015 23:02 GYT
 

(Recasts with Maduro, more details)

By Corina Pons and Diego Oré

CARACAS Oct 20 (Reuters) - President Nicolas Maduro's government predicted on Tuesday that Venezuela's inflation, already the world's highest, would be 85 percent in 2015 and 60 percent next year.

Though high, those figures are conservative compared to estimates by international economic organizations who believe the South American OPEC member's inflation is already well into a three-digit annual rate.

Critics say Venezuela's runaway price rises - together with product shortages and a shrinking economy - are evidence of a failed socialist model of price and currency controls combined with hostility towards the private sector.

But Maduro, who took over from Hugo Chavez after winning a 2013 election, blames political foes and businessmen for waging an "economic war" to try and subvert his government.

The oil price plunge has exacerbated Venezuela's problems.

Maduro's forecast of approximately 85 percent inflation this year came as he announced measures intended to help Venezuelans cope with the current economic crisis.

The 2016 prediction of 60 percent came in the government's projected budget, presented to parliament earlier in the day.   Continuación...