The constitutional president of the Bolivarian Republic, Nicolás Maduro Moros, announced that the Gross Domestic Product (GDP) of Venezuela grew more than 3% in the first three months of this year, and predicted that, at the end of 2024, the projection will be much larger than the forecast of 8% made until now, to achieve a record growth in the country and in Latin America and the Caribbean:
“It means that, if in the first quarter we grew 3% and these are the most difficult months, the forecast that I made, like a prophet, of growing 8%, gentlemen businessmen, ladies businesswomen, colleagues from the Working Class, I believe that this year we will break a record in growth of more than 8% of the economy and GDP,” he stated during the day of supervision of the production line of the Conductores de Aluminio del Caroní C.A. company (Cabelum), of the Venezuelan Corporation of Guayana ( CVG), in Bolívar state.
Before the hundreds of Venezuelan workers of the CVG, the Head of State stated that ECLAC and the International Monetary Fund (IMF) has announced that their projections are of a 4% growth for 2024: “It is the largest projection in America Latin America and the Caribbean; with that figure, ECLAC and the IMF place us in first place in the region (…) but I can tell these organizations that we have better news, much better, we have 11 quarters of continuous growth, and in the first quarter of the 2024 the growth has been higher,” he summarized.
“And we are achieving it with determination, with our own efforts, with the capacity to work,” he said, and then offered more economic data that projects Venezuela to have the best performance of all countries, despite the imperial blockade.
He recalled that the impact of the criminal and misnamed “sanctions” that the surnames requested against Venezuela, cost the GDP -calculated from the years 2015 to 2021- in 642 billion dollars, which were lost and obstructed the ability to build more homes, hospitals, schools, high schools, vital infrastructures and social rights.
“And despite those years, we recovered this country with good policies, capacity and a lot of economic strategy, which have given results to take the path of continuous growth and improvements.”
More success data:
He reported that tax collection in the first 4 months of the year has been higher than 78%, compared to the same section in 2023. These resources are directed to the missions and large missions and to the socioeconomic care of the people.
Likewise, the export sector of non-traditional products experiences growth of 11%. CLAP products went from a 93% dependence on foreign food to achieving 100% national production of the items delivered to more than 7 and a half million families.
Credit managed to increase to 81% growth; Deposits (measured in dollar equivalents) grew 58%, while the agricultural securities market reached 221 million dollars.
Regarding the price of the currency, the dollar, in the last 7 months, it is the most stable since 2012 and inflation is the lowest in 12 years: “We come from war, in 2019 inflation was higher than 340 thousand percent. And in the first quarter of 2024, I can say, today, we have the lowest inflation margin in 12 years and we are going to improve absolute control of the inflationary issue, with economic growth, with exchange stability and controlled inflation and increasingly low. An achievement of the people and the Revolution.”
In addition, he recalled that the shortage induced by the right wing with their “last queue” and the “La Manita” (The little hand) electoral cards was left in the past and today, in 2024, Venezuela has the highest supply rates in the last 21 years, since when this index is measured: “We have the highest supply levels, and we can say, of the last 30 years with quality products, of the highest quality.”
“And we can say that it is not an achievement of a single man but of the country, of our people,” he concluded.
Presidential vision and work:
During the presidential day, the Executive Vice President of the Republic, Delcy Rodríguez, highlighted that the vision of the President of the Republic has been the key to guiding the country to a new economic model after proposing, six years ago, the program to overcome the criminal blockade:
“You gave a figure that is easy to say, but is thunderous, that in six years Venezuela lost 642 billion dollars. This damage is due to envy, because they want to steal our country and we are not going to allow it. That program, five and a half years later, is saying that you, president, were right, that you do have a vision, you had a method and here are the results. (a) Positive balance of victory for Venezuela,” she concluded.
