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Venezuela: Economy could grow as much as 7 percent
May 17, 2012 12:43 PM PrintText
Venezuela: Economy could grow as much as 7 percent
CARACAS, Venezuela — Venezuela's planning minister says the South American country's economy grew 5.6 percent during the first three months of 2012.
Jorge Giordani says the economy could grow by as much as 7 percent this year.
Giordani says this year's economic expansion was largely driven by 29.6 percent growth in construction as the government of President Hugo Chavez funneled billions of dollars into a nationwide initiative to build hundreds of thousands of apartments for the poor.
Venezuela's economy rebounded and grew about 4 percent in 2011.
More:
http://www.cbsnews.com/8301-501715_162-57436341/venezuela-economy-could-grow-as-much-as-7-percent/