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IMF: Venezuelan GDP Beats
Forecasts
The IMF World Economic Outlook
says the Venezuela gross
domestic product will roll past
the IMF s April forecast of six
percent growth in 2006 to reach
7.5 percent.
The report issued at the
preparatory meeting for the
annual IMF-WB Assembly, slated
for Tuesday and Wednesday, rates
Venezuela as the second highest
growth rate in Latin America
after Argentina s 8 percent.
Estimates for 2007 indicate 3.7
percent growth instead of the
January original of three
percent, while inflation will
reach 12.1 percent in 2006 and
15.4 percent in 2007.
The outlook also bears in mind
the climbing oil prices, surplus
on current accounts will be 17.5
percent the 2006 GDP and 17.6
percent in 2007 compared to 19.1
percent that closed 2005.
The report also conveys concern
with increasing public expenses
in Latin America.
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