Venezuela in the Lead
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🎓 Longest Compulsory Education Duration
As of 2023, Venezuela mandates 17 years of compulsory education, one of the longest durations worldwide, showcasing a commitment to prolonged educational engagement.
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💱 High Real Effective Exchange Rate
Venezuela's real effective exchange rate index was 741.70 in 2016, indicating a strong currency valuation against a basket of currencies, despite domestic economic challenges.
Venezuela Following Behind
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💰 Discrepancy in Military Expenditure
In 2023, Venezuela's military expenditure in local currency was exceptionally high at 1.09e+22, yet in USD, it was one of the lowest at $3,917,057, highlighting currency valuation issues.
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⚖️ Low Rule of Law Percentile Rank
Venezuela's rule of law percentile rank was at a low 0.47 in 2023, indicating challenges in governance and legal frameworks.
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📉 Minimal Government Spending on Education
In 2023, only 0.92% of government expenditure was allocated to education, reflecting a significant underinvestment in the sector.
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📈 Skyrocketing Inflation Rates
In 2016, Venezuela experienced an inflation rate of 254.95%, one of the highest globally, coupled with a wholesale price index reaching 4005.10, indicating severe economic instability.
