Economy

Venezuela's economy grew 5.6% in the first quarter of 2012 confirmed planning and finance minister Jorge Giordani and Venezuelan Central Bank (BCV) president Nelson Merentes on Thursday.

» read more

A total of 312,725 international tourists have visited Venezuela between January and April 2012, a figure which represents almost a 50% increase compared with the same period last year.

» read more

Some years ago, travelling on the presidential plane of Hugo Chávez of Venezuela with a French friend from Le Monde Diplomatique, we were asked what we thought was happening in Europe. Was there any chance of a move to the left?

» read more

Venezuelan President Hugo Chavez has approved the construction of the factory “Haier Venezuela”, which is to produce low-cost household appliances for the Venezuela population.

» read more

Venezuela’s National Consumer Price Index recorded a 0.8% inflationary increase in April, which represents a decline in inflation for the fifth month in a row, informed Finance Minister Jorge Giordani during a joint press conference with the president of the Venezuelan Central Bank, Nelson Merentes.

» read more

The Venezuelan government has announced that it will create a national network of low price pharmacies across the country in an attempt to combat the effect of inflation on the price of medicine for Venezuelan citizens.

» read more

Venezuela’s Food Minister Carlos Osorio highlighted last Sunday the role that the revolutionary government of President Hugo Chavez has played in ensuring food security to the nation by providing more than 10 million tons of important staples for the economically disadvantaged.

» read more

The Venezuelan government has secured a loan of US$ 1 billion from Japan in order to further expand one if its oil refineries in the Northern state of Carabobo, as well as to finance oil related goods and services.

» read more

Whilst the rest of the world’s population continues to pay for the global financial crisis with their jobs, homes, education and health, and as bankers continue to award themselves millions of dollars in bonuses, the Venezuelan government has increased the percentage of net profits which banks must grant in credit to national social programs, demonstrating what a regulated and socially orientated banking system could look like for the rest of the world.

» read more

The President of Venezuela’s National Land Institute (INTI), Luis Motta Dominguez, affirmed that more than 224,000 families have benefited from redistributed farmlands made available through the Chavez administration’s agrarian reform program.

» read more