The economy of Venezuela grew by 7% in the first three months of 2024, reported this Friday the executive vice president, Delcy Rodríguez, who also foresees an increase in the period of April and June, which would add up to “12 consecutive quarters of growth.”
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“We, in the first quarter, our GDP (gross domestic product) growth figure is 7%, and we know that it is going to be even much older”, said the official in an activity broadcast by the state channel Venezolana de Televisión (VTV).
The Minister of Economy, Finance and Foreign Trade also highlighted that the Caribbean country will register 7% growth during a quarter of “commercial and economic calm”, after the “Christmas in the month of December.”
“This first quarter is indicating that Venezuela is going to grow even much more than what is projected by both ECLAC (Economic Commission for Latin America and the Caribbean) and the International Monetary Fund,” he said.
According to the Executive, the nation has “94% of South America’s reserves”, in resources such as oil and gas and minerals such as iron and diamond, which, Rodríguez stated, makes Venezuela have a “position of energy leadership.”
On the other hand, he pointed out that there is a “absolute national union in rejection of the criminal blockade against Venezuela”, which – he added – is in economic, commercial and financial matters.
Last May, the head of state, Nicolás Maduro, predicted that the national economy would close the year with growth of more than 8%.
According to the GovernmentGDP grew by 5.5% last year compared to 2022which contrasts with the information from the Venezuelan Finance Observatory – an independent entity outside the Central Bank made up of experts – which recorded a drop of 1.2% in 2023.
EFE
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