Venezuela: Low Inflation Strong Economy
Venezuelan Planning and Development Minister Jorge Giordani asserted Thursday the drop in February´s inflation rate shows the sound economic policy underway.

The central bank said Wednesday prices fell 0.4 percent last month, the lowest rate registered in the last 50 months, after a 0.8 percent growth in January.

At the televised En Confianza program, Giordani reminded the country had a consecutive nine-month growth with official forecasts of a 5 percent expansion in 2006.

He noted the low-income sector was the most benefited as the basic food basket had suffered a 0.9 percent drop.

Likewise, the minister pointed out the Gross Domestic Product could expand to 7 percent, taking into account the 9.4 reached in 2005, while predicting a decrease in unemployment.

In addition, the official asserted the Venezuelan economy growth in this year will be accompanied by social programs to ease living conditions of most people.