Sustained economic growth and running of the Venezuelan economy has been in the past four years, hence the President the Republic, Hugo Chávez, has excelled Gross domestic product (GDP) in 2007 was 8.4 percent, becoming the highest in Latin America.
This was announced during the message to the nation to offer this Friday in the National Assembly on the occasion of presenting the balance of the Bolivarian government management in 2007. He recalled that the average growth in recent four years has been 11.8 percent, one of the highest in the world.
"We must remember that in 1998 the GDP grew just 0.3 percent. Never in our country's economic history has seen an increase at this level, and this year it appears that we will continue on the path of economic growth, "he said.
Also, President Chavez recognized that inflation has not taken steps to address this phenomenon whose roots are structural.
In this regard, said the annual general price level (inflation) stood at 22.5 percent. "It is still very high and I Hence one of the areas in which I agree that we failed (...), but this is still one of the scourges more difficult to eradicate because it has structural roots in the rising costs. "
the past nine years the average inflation stood at 19.67 percent. But in the two previous governments the Bolivarian government figure stood at more than double. Between 1989 and 1993 was 45.3 percent, and from 1994 to 1998 of 59.4 percent.
One of the Bolivarian government measures to alleviate the inflation rate has been gradually increasing the minimum wage. The last increase made in 2007 places it in strong bolivar 614.79, employees in addition to Venezuela, by law, have the benefit of bonus food.
"The minimum wage in our country is one of the highest in Latin America, with $ 286 monthly. In 1997 the wage stood at $ 157, so we've almost doubled the income of our workers in the last decade, "he said.
further commented that there are steps that should be more severe, especially in relation to the speculators. "I believe that it is not enough to close them, because one closes one occasion, but if they return, expropriation, is passed into the hands of the people, regardless of the economic unit."
And is that the issue of domestic productive failure, fragmentation of markets that encourage hoarding with speculation, are facts that favor inflation.
Luso-Venezuelan relations
In another vein, President Chavez said Jan. 10 that talks with the prime minister of Portugal, Jose Socrates, who expressed his desire to realize an early visit to our country. On that occasion
talked about food production, under which Portugal is a producer of wheat, and the rising price of wheat, milk and food in general is amazing.
"What happens that is hardly speak because the mass media of capitalism project what they should (...) you can live without petrol, but can not live without food. The plan released by the U.S. President (ethanol) has impacted on the increase of food products "
Portugal is one of the countries with a large colony in our country and this visit would further strengthen the friendships that are renewed between Caracas and Lisbon.
Last November, President Chavez made an important visit to the Iberian nation, where they agreed to joint development plans, highlighting the sector energy. Also, on this occasion gave security to the economic stability of the Lusitanian community living in Venezuela and have established strong business units, or small businesses.
The visit of Prime Minister Socrates is raised for the first quarter of 2008.
This was announced during the message to the nation to offer this Friday in the National Assembly on the occasion of presenting the balance of the Bolivarian government management in 2007. He recalled that the average growth in recent four years has been 11.8 percent, one of the highest in the world.
"We must remember that in 1998 the GDP grew just 0.3 percent. Never in our country's economic history has seen an increase at this level, and this year it appears that we will continue on the path of economic growth, "he said.
Also, President Chavez recognized that inflation has not taken steps to address this phenomenon whose roots are structural.
In this regard, said the annual general price level (inflation) stood at 22.5 percent. "It is still very high and I Hence one of the areas in which I agree that we failed (...), but this is still one of the scourges more difficult to eradicate because it has structural roots in the rising costs. "
the past nine years the average inflation stood at 19.67 percent. But in the two previous governments the Bolivarian government figure stood at more than double. Between 1989 and 1993 was 45.3 percent, and from 1994 to 1998 of 59.4 percent.
One of the Bolivarian government measures to alleviate the inflation rate has been gradually increasing the minimum wage. The last increase made in 2007 places it in strong bolivar 614.79, employees in addition to Venezuela, by law, have the benefit of bonus food.
"The minimum wage in our country is one of the highest in Latin America, with $ 286 monthly. In 1997 the wage stood at $ 157, so we've almost doubled the income of our workers in the last decade, "he said.
further commented that there are steps that should be more severe, especially in relation to the speculators. "I believe that it is not enough to close them, because one closes one occasion, but if they return, expropriation, is passed into the hands of the people, regardless of the economic unit."
And is that the issue of domestic productive failure, fragmentation of markets that encourage hoarding with speculation, are facts that favor inflation.
Luso-Venezuelan relations
In another vein, President Chavez said Jan. 10 that talks with the prime minister of Portugal, Jose Socrates, who expressed his desire to realize an early visit to our country. On that occasion
talked about food production, under which Portugal is a producer of wheat, and the rising price of wheat, milk and food in general is amazing.
"What happens that is hardly speak because the mass media of capitalism project what they should (...) you can live without petrol, but can not live without food. The plan released by the U.S. President (ethanol) has impacted on the increase of food products "
Portugal is one of the countries with a large colony in our country and this visit would further strengthen the friendships that are renewed between Caracas and Lisbon.
Last November, President Chavez made an important visit to the Iberian nation, where they agreed to joint development plans, highlighting the sector energy. Also, on this occasion gave security to the economic stability of the Lusitanian community living in Venezuela and have established strong business units, or small businesses.
The visit of Prime Minister Socrates is raised for the first quarter of 2008.
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