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Venezuelan president celebrates progress in economic matters

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Venezuelan president celebrates progress in economic matters

Caracas, Aug 29 (Prensa Latina) President Nicolas Maduro on Monday celebrated Venezuela's progress in economic matters, despite the coercive measures imposed by the United States and its allies against his country in recent years.

Amid the most criminal imperial blockade against Venezuela, our people found an opportunity for the development of a non-dependent, diversified and productive economy, which is bearing fruit. A true miracle!” the President wrote on his Twitter account.

Official data revealed that at the end of the first semester of this year, Venezuela’s economy grew in double digits, compared to the same period in 2021, and according to authorities and other competent sources, it will continue growing.

Calixto Ortega, president of the Central Bank of Venezuela, explained at a meeting of the National Council of Economy that the fiscal, monetary, and exchange rate policies were strengthened, in addition to advancing the main objectives of stabilization, inflation control, and entering strongly in the growth phase.

He explained that Venezuela has grown for four consecutive quarters in double digits and its Gross Domestic Product (GDP) increased by 17.04 percent compared to the same date last year.

The latest report by the Economic Commission for Latin America and the Caribbean (ECLAC) estimated that Venezuela is projecting growth between 5 and 10 percent this year, a percentage that is considered the highest in the region and whose perspective is only 2.7 percent.

Authorities consider that the economic recovery is due to the implementation of new policies and a new diversified model, led by the People’s Power and the national productive forces of the different society sectors.

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