Venezuela Economy Just Keeps Growing
 Prensa Latina
| | Venezuelan National Assembly Finance Committee chairman Rodrigo Cabezas |
Caracas - The Venezuelan economy, with a solid tendency to expand for three consecutive years, forecasts an advance of 10 to 10.5 percent for 2007, legislative sources revealed Wednesday.
Venezuelan National Assembly Finance Committee chairman Rodrigo Cabezas told press the estimate represents an economic growth rate "with a greater level of employment and investment." For the current exercise, the Gross Domestic Product will be around 10 percent, while in the case of the private sector, it will have an increase of 11 percent.
Among the sectors with increases are plastic, rubber, paper, the auto industry, metals, food and beverages.
Gross capital fixed investment will increase 40 percent compared to 2005, which will bring the Venezuelan population greater benefits.
Cabezas said such a tendency means to "produce more food, clothes, shoes, and dwellings, and include recuperation of real salaries for the population," and estimated a 7 percent reduction in unemployment Recently the Latin American Integration Association (ALADI) annual report attributed a 7 percent GDP growth for Venezuela in 2006.
Cabezas also noted the International Monetary Fund document mention of a reduction of the Venezuelan foreign debt. |
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Business News | December 2006 
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