GDP for energy rises, but power failures persist
Gross domestic product derived from water and power has grown for six quarters in a row
With regard to the six-month performance, the Central Bank reported a 3% increase for the first half of 2012 compare with 2011. In addition, data for both six-month terms and quarters is the highest since 2009, the year on which the energy crisis began, and the government had to devote greater investment to that sector.
Nevertheless, the rural areas of the country began to suffer from energy cutbacks resulting from power shortages.
The GDP for power and water is mainly influenced by the electricity sector and its investments and ongoing projects. In fact, over the past year and a half, investment is higher, yet the National Electrical System still faces the same issues.
Electrical engineer and professor at Simon Bolivar University, José Manuel Aller, blamed "lack of suitable management" as the underlying cause preventing the energy GDP from translating into a substantial improvement in the service output.
Translated by Félix Rojas Alva
Luis Jiménez Alfaro seems to have hidden under the rocks. The last time he was seen was on April 2006 walking calmly around Simón Bolívar International Airport of Maiquetía, located nearby Caracas. At that time, more than five tons of cocaine arrived in Mexico in an airplane which took off from Venezuela, and his name featured as a missing piece of the puzzle of one of the most massive drug shipments that has been witnessed in the Western Hemisphere.