Statement I: Recently, Venezuela has achieved a rapid recovery from its economic crisis and succeeded in preventing its people from fleeing/emigrating to other countries. Statement II: Venezuela has the world’s largest oil reserves.
Which one of the following is correct in respect of the above statements?
✅ Correct Answer: (d)
Explanation:
Statement I – Incorrect: Venezuela continues to face a severe socio-economic and political crisis marked by hyperinflation, food insecurity, rising crime, and mass emigration. A large proportion of the population lives in poverty.
Statement II – Correct: Venezuela possesses the largest proven oil reserves in the world, estimated at around 300 billion barrels.
