First of all, Venezuela's main industry is the oil industry. Whether it is the domestic economy or the means to obtain foreign exchange, it depends on the only oil industry to develop. Therefore, during the economic crisis in 20 14, the international oil price fell like an avalanche, and even every barrel of oil was mined at a loss. Therefore, for the Venezuelan economy at that time, this blow was equivalent to directly interrupting the economic lifeline of Venezuela.
Secondly, Venezuela's public welfare is good, but it costs money. The source of funds spent is Venezuela's oil exports. When the oil industry experienced a serious crisis, Venerella's public welfare plummeted instantly.
Finally, Venezuela's economy, after all, Venezuela's economic model is too single. It is supported by one industry-petroleum industry, and there is no other industry to assist it.