ESPACIO PUBLICITARIO
CARACAS, Wednesday November 21, 2012 | Update
 
|
share
|
ECONOMY

Venezuela's 5.2% economic growth attributed to heavy public expenditure

Government expenses boosted trade, services, and construction sectors

Central bank's authorities stated manufacturing increased by 3% in the third quarter (Photo: AVN)
MAYELA ARMAS H. |  EL UNIVERSAL
Wednesday November 21, 2012  01:50 PM
Economic activity in the third quarter recorded a 5.2% growth of the GDP, which was spurred by heavy public expenditure.

The information was disclosed by the Central Bank of Venezuela (BCV), which outlined that higher government expenditure (7%) and higher private consumption (7.8%) led to growth in public construction, trade, and services. However, in key manufacturing areas, further setbacks were reported and the fall in production was offset by imports.  

During the presentation of Venezuela's economic results in the third quarter of the year, Planning and Finance Minister Jorge Giordani asserted, "We have entered a new steady and sustained expansion period, and we have been able to exceed the five percent goal set for this year." After showing some figures, the minister praised only the administration of some sectors heavily dependent on public funds.

Stimulus

During the presentation, the BCV admitted that favorable results were due to "greater supply of goods and private and public funding for construction."

Indeed, the construction sector grew 12.6% in the third quarter, with the public construction sector climbing 18.8% due to the construction of new homes. 

Regarding manufacturing, the BCV remarked that the sector grew 3% due to a higher production of paper, wood, furniture, textiles, and rubber. Nonetheless, poor results were reported in key areas. Production of food, automobiles, machinery, and electric devices turned out to be negative.  

Translated by Jhean Cabrera
|
share
|
ADVERTISING SPACE
Dossier
Living with HIV/AIDS (II)

At first she agreed that I use her real name, that she had no problems with that at all. After all, living with HIV had driven her to help others – as a workshop facilitator giving talks and conducting seminars, or as a volunteer for local AIDS Service Organizations like Acción Solidaria (Solidary Action) and Mujeres Unidas por la Salud (Women United for Health, or Musa), a support group network for HIV-positive women. But when we were well into the interview, the realization that she might lose her private health insurance coverage made her change her mind.

fotter clasificados.eluniversal.com Estampas
Alianzas
fotter clasificados.eluniversal.com Estampas
cerrar