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Minister Ali Rodriguez Notes Positive 0.3% Growth of GDP

The Ministry of People’s Power for the Economy and Finances emphasized the growth of Venezuela’s Gross Domestic Product (GDP) of 0.3% during the first quarter of 2009, when compared to the same period last year.

Rodriguez indicated that the construction and food sectors have demonstrated a modest expansion that has contributed to achieving this growth, in spite of low petroleum activity that –in this same period- fell more than 4%.

During this interview on Venevision, Rodriguez explained that the Venezuelan economy has maintained positive growth during 22 quarters since the coup d’état of 2002, however, he declared that petroleum income impacted the slowing of the national economy.

“From approximately 87 dollars per barrel of crude we had last year, in the first quarter we have an average of around 42 dollars, and that implicates a steep drop in income and represents an incidence in which there was growth of the economy,” continued the Minister.

On the other hand, Rodriguez compared the positive results of the estimation of Venezuelan GDP with the reality that of other countries in the world, like the United States and some other European nations, whose economies demonstrate symptoms of recession from the global financial crisis. 

Prensa Web RNV, Press Unit Ministry of Economy and Finances Press Unit of the Embassy of the Bolivarian Republic of Venezuela to the United States / May 20, 2009

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