Nicolás Maduro predicted this Friday that the national economy will close the year with growth of more than 8%, following showing positive signs in the first quarter.
«I think that this year we are going to break the record of growth of more than 8% of the economy and of the gross domestic product (GDP).“said the president during an event with workers in the state of Bolívar.
He recalled that the country, which was mired in a deep crisis between 2014 and mid-2021, has now accumulated 11 quarters of “continuous growth,” despite international economic sanctions, some of which have been relaxed in the last year.
As an example, he indicated that in the first four months of the year tax collection grew by 78%, compared to the first four months of last year.
«Tax collected, tax invested (…) to repair schools, high schools, to invest in the economy“, he stressed.
He also noted that between January and April the country averaged the lowest inflation in the last 12 years, following having experienced hyperinflation in the past decade, when prices rose, sometimes, several times a day.
The government estimates the nation’s partial loss of revenue at more than $2 billion at the end of the first quarter of the year due to sanctions, mainly those imposed by the United States.
According to the Government, GDP grew by 5.5% last year compared to 2022, which contrasts with information from the Venezuelan Finance Observatory – an independent entity outside the Central Bank made up of experts – which recorded a fall of 1.2% in 2023.
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2024-07-07 10:45:14
