Venezuela reports 5.5% growth in the last quarter of 2012
According to the central bank, the performance in the fourth quarter was the result of a 3.7% and 5.6% growth of the value added of the public and private sectors, respectively
The Central Bank of Venezuela (BCV) reported on Tuesday a 5.5% growth of the gross domestic product (GDP) in the fourth quarter of 2012, compared to the same quarter in 2011.
Including the economic growth recorded in the first nine months of 2012, Venezuela's annual growth in 2012 hit 5.6%, the central bank said in a communiqué.
The leap recorded in the fourth quarter was the result of a 3.7% and 5.6% growth of the value added of the public and private sectors, respectively.
A group of some 60 Venezuelan economists from across the country and from different generations and backgrounds, has met regularly in the past couple of years and now has brought forth a document explaining the reasons of the current emergency and outlining specific proposals on how to address the serious economic crisis the country has plunged into over the last three years.