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Venezuela: Lowest Percentage of Social Inequality in Latin America

Venezuela has the lowest percentage (0.38 percent) of social inequality in Latin America, according a report released by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).

The President of the National Institute of Statistics, Elias Eljuri, said on Monday that the ECLAC report shows that extreme poverty in Venezuela was reduced from 21 percent in 1999, when the Bolivarian Revolution began, to 6.9 percent, with a tendency to continue decreasing.

The report, which was recently presented by ECLAC Executive Secretary, Alicia Barcena, also confirms that Venezuela has been able to reduce the gap of income distribution per capita by almost 15 percent.

The report’s data confirm  figures issued by the Central Bank of Venezuela (BCV), showing a 4.5 percent increase of GDP during the first trimester of the year, thanks to the government’s boost to the public and private sectors.

Additionally, the ECLAC report highlights that the economy in Latin America and the Caribbean would increase by 4.7 percent this year.

During a radio interview, Eljuri also highlighted the increase of formal workers over the last 12 years, which stood at 46 percent and now reaches 57 percent.

Social policies of the Chavez government have been largely responsible for the decrease in poverty and increase in overall social well being in the South American nation. Using oil profits, the Venezuelan state has invested heavily in healthcare, education and infrastructure to improve quality of life for all.

Published on Jul 31st 2011 at 8.33am