Saturday, April 19, 2014





Venezuelan economy grew 5.5 percent in 2012


February 19. 2013 11:47PM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Venezuela's gross domestic product grew 5.5 percent in 2012 compared to the previous year, consolidating an economic recovery that began in 2010.


The growth was fueled in part by government spending, especially on a program to construct low-income housing. Construction grew 16.8 percent.


Central Bank President Nelson Merentes announced the figures Thursday.


Private sector production grew 6.1 percent and the public sector production rose 5.2 percent. The all-important oil industry grew 1.4 percent.


The manufacturing sector grew a modest 2.1 percent. Industry leaders complain that currency exchange controls make it difficult to procure dollars that manufacturers need to import raw materials. They also say the overvalued Bolivar currency makes locally produced goods uncompetitive with imported ones.


Also mitigating the recovery is Venezuela's 18 percent inflation rate, the region's highest.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds