Venezuela Among Main Latin America Economies
Venezuela was among the first five economies in 2012, with a 5.5-percent increase of its Gross Domestic Product (GDP), official sources said today. According to the Central Bank of Venezuela (BCV), that behavior makes the nation being able to reach the objective of a GDP growth of six percent.
To that bank, reactivation of the Venezuelan economic machine allows to gather strength to also obtain positive results in 2013.
“Venezuela is still firm in the path of growth. Consolidation of its new financial institutionality, progressive management of the oil rent and strengthening its social justice allow it to predict a new year of wellbeing for all,” the entity said.
Likewise, they will continue working in tight coordination with the Executive, aimed at keeping this state of economic expansion, characterized by greater demand, more investments and consumption and in fact, more inclusion and social wellbeing for all the population.
Reactivation of the economy has stretched for more than two consecutive years, boosted especially by GDP growth in construction, which increased to 16.8 percent in 2012, as well as a 6.1-percent increase in the private sector.
The Venezuelan oil derivatives stayed at more than $100 US per barrel and in some moths reached ceilings between $105 and $107 US.
Meanwhile, 50 percent of the imports focused on buying supplies, machinery and equipment to boost internal production of goods and services.
Last year, there was a significant increase in the credit portfolios aimed at developing strategic productive activities as agriculture, small and medium-sized industries and tourism.
Classified according to the allocation of the resources, the loans to business and those to the microbusiness sector increased 60.4 percent and 97.9 percent, respectively.
