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Venezuela Economy Just Keeps
Growing
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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