Economy shrinks by only 8-9%

October 29, 2003

The Venezuelan economy shrank in the third quarter by 8-9% of GDP according to the Minister of Finance. According to the Government PDVSA is up to speed and the opposition did not stage any strikes or boycotts during the quarter or the previous ones. So how come it shrank? Maybe because they are using Chavez’ profound economic statement said two weeks ago while I was away “You don’t need economic growth to improve the life of the poor”. It shows…..

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