Venezuela's Maza Says Economy May Expand as Much as 12% in year.

[bemildred]

I got sick of the recall babble. It's worth
reading the whole thing, it is short.

June 2 (Bloomberg) -- Venezuela's economy will
probably surge almost twice as fast as the
government has forecast this year, as oil production
and consumer demand rebound from a record
recession, a central banker said.

Gross domestic product probably will grow
between 10 percent and 12 percent for the year,
and growth in the second quarter is likely to be in
the range of 12 percent to 14 percent, said Domingo
Maza, one of seven central bank directors.

Maza, 81, said his comments didn't reflect the
official views of the central bank. The government's
official forecast for GDP growth for this year is 6.5
percent.

---

Inflation will likely slow to between 18 percent and 22 percent this year from 27 percent last year, Maza said.
The bank's official inflation forecast is between 24 percent and 26 percent.

Bloomberg

[BayCityProgressive]

1. hopefully it is true

these people deserve some relief.

[bemildred]

2. Oh, it's true.

I've seen a number of these stories from sources like
Bloomberg, which is far from a lefty site, since last
Fall, and they are consistent. You will see stories in
the Venezuelan press about the improving financial situation
and where the money is going, too, but you have to look for
it.

[Imperialism Inc.]

3. Beat me too it. lol

I keep looking for Carter to say somethign but i think last night was it until the 4th at least.

Here is another econ article.

http://www.forbes.com/personalfinance/funds/newswire/2004/06/01/rtr1390880.html
Venezuela's consumer prices rose 1.2 percent in May compared with 2.3 percent a year earlier, the Central Bank reported Tuesday.

Inflation for the first five months of 2004 through May was 9 percent compared with 13.8 percent in the same period through May 2003.

Venezuela introduced currency and price controls in February last year to halt capital flight and shore up the bolivar currency.

[FlemingsGhost]

4. It's must be because the U.S. meddling

Because we all know Hugo Chavez is a bad, bad man.

[Vladimir]

5. I expect the opposition will

stage another set of strikes soon to drag everything into the mud again... or I am just being hopelessly cynical here?