Authors:
Luis Alberto López Rafaschieri and José Alberto López Rafaschieri
www.morochos.net
The IMF, the local schools of economy and the Venezuelan independent business chambers agree: Venezuela's economic expectation for 2010 is a scenario of stagnation.
The IMF expects growth of -0.4% for the GDP of Venezuela, despite the major economies are already in the recovery phase after the alarming 2008-2009 financial crisis. It is envisaged that Latin America as a whole will increase the size of its economy by 4% on average; being Chile, Colombia and Brazil the countries with the highest expectations (5% growth in GDP) and Venezuela the worst in the region.
However, according to forecasts of these institutions, not everything will stagnate economically in Chavez's country. Thus, although private consumption and investment will remain weak in 2010, due to faulty government economic policies, inflation is expected to continue its dizzying upward trend, comfortably surpassing the mark of 40%.
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ReplyDeleteNicolaas Smith
http://blogs.fin24.com/realvalueaccounting
It is funny how many of the rich "Miami'ns" (those who bailed after Chavez) never really understood the growing hatred of the poor before Chavez was president. It will take a lot more than a bad economy and electricity outages to force Chavez out of power. Imagine if these things happened in America? Obama's approval ratings are tanking after a recession that was not his fault. Imagine if we were experiencing power outings and food shortages. Finally the poor in Venezuela have the powere and they will not be easily enticed to give it up. I spent a couple years living amongst the poor in Venezuela and saw things that most of the upper class never did. Maybe you would understand things better living en Petare instead of Miami. Chavez is a horrible president, but that is the your (rich upper class Venezuelans) fault, not the fault of the poor. Trevor Haggett
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