(CNN) Venezuelan President Nicolas Maduro begins another six years in power Thursday with a collapsing economy that shows no sign of bottoming out and a threat from some Latin American neighbors who say they will not recognize his government.

And still, there are few in or outside of Venezuela who are predicting Maduro's downfall in 2019 or beyond.

"It seems that Maduro has gained the upper hand in terms of his control over the key institutions in the country, including the military, which is most key. So, in the near term it seems unlikely that anything from that aspect is going to happen," says Richard Francis, director of sovereign ratings at Fitch Ratings.

It is an insight long held by Taina Nieves, who has just returned to Venezuela's capital Caracas after scouring both Peru and Columbia for a better life and is more disillusioned than ever.

"Now that that man will remain in power, prices will go up again. He'll most likely raise the minimum wage, but that means the prices on everything go up also. So we'll be stuck in the same situation," Nieves said.

Read More