Monday, October 11, 2010

Venezuela: Estimate of 2010-III GDP growth

Authors:
José Alberto López Rafaschieri and Luis Alberto López Rafaschieri
www.morochos.net

The Venezuelan economy would have grown -1.4% during the third quarter of 2010, compared to the same period last year.

This quarter was boosted by a bit lower inflation and the electoral spending of the parliamentary elections, but the weakening of the Venezuelan middle class -as consumer and merchant- continues to be reflected in the general state of the economy.

If our figures are correct, this would represent the sixth consecutive quarter of economic contraction in Venezuela, i.e., 18 uninterrupted months of revolutionary recession. Which also means that Venezuela is only two additional quarters of decline from an economic depression. Reality should not surprise anyone, given the socialist policies Chavez has implemented despite the lessons of history.


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2 comments:

  1. You`re a supporter of Plan Colombia - says it all, I guess. Will you be going to the funerals of the 2000 Colombian peasants, as they are identified from the mass grave ?
    You should contribute to your Country`s independent development, rather than trying to sell it to US Corporations. Look at the US economy and their bleak future, I wonder why that dark vision is what you want for your homeland.
    The Venezuelan currency has been attacked by US speculators, as was Greece and Spain and the Euro. It now seems that the devaluation and currency controls introduced by the government are working quite well - even the ever-critical WSJ acknowledges that much :)
    http://online.wsj.com/article/BT-CO-20101011-709726.html
    Private sector employment continues to grow and International development deals, most notably with China(which does not send troops and political provocateurs along, unlike your Northern neighbour), promise future employment and economic development.
    Venezuela has been praised by the UN for being well ahead of schedule on achieving the Millenium Goals; the only country to have done so much.
    'The Economic Commission for Latin America and the Caribbean (ECLAC) has recognised that Venezuela is the country that has reduced inequality the most in the region.'
    http://londonprogressivejournal.com/article/764/venezuelan-un-speech-criticises-market-totalitarianism

    Venezuela has significant problems, but then which country in that region (and most others) does not ?
    Perhaps if you and your ilk applied yourselves to solving them, rather than trying to undermine progress in Venezuela, they would be solved all the sooner.

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  2. How can we sell our country to the United States if we are not the Venezuelan government? Chavez is the only one who has destroyed the national economy, strangling the private sector and handing over Venezuela's resources to other States in exchange for political support for his authoritarian project.

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