Venezuelan Social Policy
Reduces Poverty
Venezuelan authorities
considered on Saturday
that poverty reduction
is a result of the
country's social policy,
which places this South
American nation in the
second place in the
region, according to the
Economic Commission for
Latin America and the
Caribbean (ECLAC).
Finance Minister Rodrigo
Cabezas pointed out that
the CEPAL report,
published on Thursday,
confirms that poverty
was reduced by 18.4
percent and extreme
poverty dropped 12.3
percent from 2002 to
2006.
In statements to the
Zulia-based newspaper La
Verdad, Cabezas noted
the need to continue to
work in that direction,
as 22 percent of
Venezuelan homes are
still poor.
He pointed out that
Venezuela ranks second
in the continent, after
Argentina, despite the
country's paralyzation
from December 2002 to
February 2003 as a
result of opposition
actions that made the
gross domestic product
(GDP) drop nearly 30
points.
Cabezas confirmed that
the goal of keeping
inflation under 12
percent will not be
achieved this year, but
efforts are being made
to keep that rate as
close as possible to
that target.
The Venezuelan official
attributed the increase
in inflation above
predictions to a gap
between demand and
supply in September and
October, when inflation
increased to 13.6
percent.
The increase in demand
for milk, sugar and
cooking oil has been met
by importing additional
amounts of those
products, the minister
added.
Inflation, which reached
17 percent in 2006, is
the main concern in
Venezuelan economy,
which grew 8.7 percent
during the third
trimester of the year,
and reported a balance
of payments of 3.94
billion dollars during
that period.
Venezuela's GDP grew
from July to September
for the sixteenth
consecutive trimester. |
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