CARACAS (Reuters) - Venezuela's economy shrank by 29.8 percent in the third quarter compared with the year-ago period, the opposition-controlled congress said in a report on Wednesday, as the five-year long recession deepened.
That was a sharper deceleration than the OPEC nation's 16.6 percent contraction in 2017, according to preliminary data compiled by the country's central bank. The economy has been in freefall since oil prices collapsed in 2014, quickening the unravelling of an already-faltering socialist system.
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