In August, ECLAC had estimated that Venezuela’s economic expansion would be 10% this year, up from the 5% projected in May.
“Do you want to know how much your country will grow in 2022 and 2023? #ECLAC today updated its growth projections for #LAC. Next year the region will once again face an unfavorable international context. All the details here:
👉 https://t.co/0dwh8CWCxU pic.twitter.com/VjhPnRwUZM”
— ECLAC (@cepal_onu) October 19, 2022
In the first quarter of the year, the rise in the economy was 17.4%, according to the Central Bank of Venezuela (BCV). In addition, the main banking entity in the country projected a growth of 18.7% for the second quarter.
The estimates of international organizations on the expansion of Venezuela for this year range from 5 to 20%.
2021 was the first year of economic growth since the war of US imperialism against the Venezuelan people began.
Moreover, after four years, Venezuela has managed to get out of hyperinflation in 2021, after 12 months with inflation below 50%, according to the BCV.
More than 900 coercive measures weigh over Venezuela, which led to a 99% reduction in its income, as reported by the Head of State, Nicolás Maduro.
