It’s in a bad state because it’s under heavy sanction and periodic military attack.
Honduras, by contrast, is a dictatorship with very friendly US trade relations and little to no risk of being bombed by American jets. So their economy is outperforming.
Yes, and the exact reasons Venezuela is in a bad state is because it’s dictatorial, not because it’s socialist.
It’s in a bad state because it’s under heavy sanction and periodic military attack.
Honduras, by contrast, is a dictatorship with very friendly US trade relations and little to no risk of being bombed by American jets. So their economy is outperforming.