LatinNews Daily - 21 May 2026

*Venezuela’s central bank (BCV) has released figures showing that the country’s GDP grew by 2.51% year-on-year in the first quarter of 2026. Oil-related activity was down by 2.12% year-on-year, while non-oil activity grew by 3.11%, with the steepest increases in financial activities and insurance (+13.46%), vehicle sales and repairs (+8.67%), and food storage and services (+7.48%). Growth was driven by the private sector, which expanded by 3.52% in Q1, whereas the public sector contracted by 0.68%. According to BCV figures, the overall growth rate of 2.51% follows year-on-year GDP growth of 7.19% in Q4 2025, 10.50% in Q3 2025, 8.96% in Q2 2025, and 9.40% in Q1 2025.