Venezuelan Economy Is Growing Faster Than Forecast, Maza Says

[bemildred]

Sept. 13 (Bloomberg) -- Venezuela's economy may grow twice as fast as the official forecast this year after record oil prices fueled a surge in government and consumer spending, a central banker said.

Domingo Maza, one of seven central bank directors, said gross domestic product will probably grow between 8 percent and 10 percent this year, compared with the government's forecast of 5 percent. He estimated third-quarter growth at 10 percent.

``Growth depends a lot on high oil prices that allow imports and public spending, which are important factors in the Venezuelan economy,'' Maza said yesterday in a telephone interview in Caracas

A 38 percent increase in government spending in the first half spurred 9.3 percent GDP growth in the first six months. Venezuela relies on imports, which rose 64 percent in the first half, for about 60 percent of its food, medicine, clothing and electronic goods.

Bloomberg

[ananda]

1. Boy, that Chavez is..

.. pure gold!

Sue

[bemildred]

2. Venezuela Business Leaders Denounce Recent Government Takeovers

Compare and contrast.

CARACAS -(Dow Jones)- Venezuelan business leaders on Monday jointly denounced a recent rash of government takeovers of private sector assets, calling them a violation of private property rights.

---

For many business leaders these actions will contribute to hurt the economy in the long run.

Eduardo Gomez Sigala, president of Conindustria, a manufacturing trade group, also denounced the recent takeovers. "The government is moving to limit all business activity and initiative of Venezuelans," he said.

Similarly Gustavo Moreno, president of Fedeagro, an agriculture group, warned that idle assets or lands only signal the weakness of certain sectors.

http://framehosting.dowjonesnews.com/sample/samplestory.asp?StoryID=2005091217240004&Take=1

[1932]

4. Yeah, because what was happening before worked so well.

[Child_Of_Isis]

3. Rub it in, rub it in.

I know this stuff keeeeels shrub :headbang:

[krkaufman]

5. Damn "commie"!! n/t

[killbotfactory]

6. It must be lies!

Economic growth isn't possible unless the poor are repressed! Duh!

[Judi Lynn]

7. Great news. Be sure Bush is plotting some rough stuff.

MEpublicans can't afford for anyone so different from them to succeed. They won't stop until they've killed him, or created a more successful coup, no matter what the price.

Venezuelans chose their leader, and it's Hugo Chavez. Our terminally anal, hate-filled right-wingers really need to learn how to live in a world with others. They can't kill us all.

[Demeter]

8. That's What Happens When Money Circulates

instead of piling up in off-shore accounts of a few overly-rapacious thieves.