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Extreme Poverty Reduced by Half in Venezuela

From 1999 to 2011

Extreme poverty in Venezuela, which affected 5.44 million people in 1998, has been reduced to 2.44 million in the last 12 years, according to statements made Tuesday by the president of the National Institute of Statistics, Elías Eljuri.

“Extreme poverty in Venezuela has fallen since President Hugo Chávez came to power. About two and a half million people in Venezuela have overcome poverty between 1998 and 2011,” said Eljuri during an interview broadcast by the state-run television station, Venezolana de Televisión.

Extreme poverty currently stands at 6.8 percent, said Eljuri, who also noted that increased social investment by the government has been an important factor to make this and other positive trends.

“One has to compare social investment in the 11 years previous to this government with the last 11 years. Social investment jumped from 36 to 62 percent – with an investment of about $400 billion – and has developed a human-centered policy targeting low-income sectors,” he said, comparing poverty rates under the Bolivarian Government with previous governments from 1988 to 1998.

AVN / Press Office – Venezuelan Embassy to the U.S. / November 1, 2011      

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