Venezuela’s GDP to End at around $US 300 Billion This Year

Caracas, 28 Dec. AVN.- Venezuela’s Gross Domestic Product (GDP) will end 2011 at around 300 billion dollars, informed President Hugo Chavez.

“This year, we will end the year with a GDP of around 300 billion dollars. A decade ago, we did not reach 100 billion dollars,” Chavez said on Wednesday during a new year greeting and promotion event for officers of the Bolivarian National Armed Forces, in Caracas.

Yesterday, during a phone call to a local television station, President Chavez explained that the Gross Domestic Product (GDP) per capita in Venezuelawill be over $10,000 this year.

“Venezuela had a GDP per capita under 4,000 dollars [in 1998]. Today, we are above 10,000 dollars … despite the fact that the population has grown so much. We used to have about 23 to 24 million inhabitants, and now the population is close to 30 million,” he said .

President Chavez said that this GDP figure is part of the growth of the domestic economy, so he called on all sectors to continue increasing the production of goods and services.

“It is crucial for independence. It is important to keep stability and peace. The two of them are essential requirements for national development,” he said.

The president commented that he thinks 2012 will be better than previous years. “It shows promise of being a year of great battles, great victories and great progress. It cannot be otherwise.”

Edited by Venezuelanalysis.com