Central Bank president cherishes inflation at 14%-16% in 2013

Venezuelan Finance Minister Jorge Giordani took part on Wednesday in a discussion of the Finance and Economic Development Committee of the National Assembly (AN), concerning the 2013 Budget, prior to a second discussion in a plenary session.

Giordani reiterated that the budged was premised on prudence. "We must get ready for any event of the world economy," he advised.

For his part, Nelson Merentes, the president of the Central Bank of Venezuela (BCV), said that the goals of inflation in 2013 at 14%-16%, and 6% growth "are possible."

He added that annualized inflation this current year at 17.9% is far below the budgeted inflation at 20%-22%.

"There is an upward trend," he commented with regard to the economic outcome in the third quarter of 2012.

With reporting by Mayela Armas