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INE President: Economic Growth Continues for the 22nd Straight Quarter

For 22 consecutive quarters, the Venezuelan economy has risen and registers growth of 0.3%, according to the president of the National Institute of Statistics (INE), Elías Eljuri.

On a VTV interview on Monday, Eljuri stated that the non-oil sector of the economy grew by 1.3% in 22 quarters, specifically since 2003. He explained that the oil sector economy dropped by 4.8% due to a production cut of 18,000 barrels. 

“Despite the global crisis and  the fact that growth has not risen, the Venezuelan economy is solid; the economy keeps growing.”

Inflation in Deceleration

The president of the INE indicated that in 2008 inflation decreased by 3.2% and in 2009 it has decreased by 2%. Likewise, he pointed out that from May 2008 to 2009 it went from 28.3% to 26.8%.

Unemployment Rate

Regarding unemployment, Eljuri explained that in April of 1999 the rate was 14.5%, while in April of 2009 it was 7%
He said that the formal sector of the economy has been rising from 49% to 57.2%.

“The rate of unemployment in Venezuela remains stable and the tendency is stability during the course of the year,” he added.

Public Health System

Regarding an INE study, Eljuri said that 81.8% of Venezuelans utilize the public health system, approximately more than 22 million people, of which 75.4% say they felt satisfied with the service.

He stated that 93.5% of Venezuelans utilize the “Barrio Adentro”, a social program implemented by the government that provides free universal healthcare for all Venezuelans, especially for the poorest, and more than 71% of Venezuelans take advantage of the resources offered by  public hospitals.

“These figures demonstrate that health care is accessible to the majority of society, and that it is yielding high satisfaction,” he stated.

Bolivarian News Agency, Press Unit of the Embassy of the Bolivarian Republic of Venezuela to the United States / June 8, 2009.

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