Tuesday, July 1, 2014

July 2014 Cost of Living Rankings Show a Change in the Number One Spot



Caracas, Venezuela moves up to top position again this quarter as the most expensive expat destination worldwide.
The adjustment plan that investment banks in Venezuela had forecast that President Nicol├ís Maduro would implement which included rate unification, an increase in the gasoline price, monetary discipline and tax reform has not happened. 
End April saw public expenditure jump by 20% in real terms; while between late March and early April the central bank provided VEB 75 billion (USD 11.9 billion) in funding to state-run oil company -- Pdvsa. The parallel forex market in the country will continue to exist due to the foreign currency control which is not likely to end, resulting in the lack of forex rate unification. What other changes in ranking can be found? 

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