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
Tuesday February 26, 2013 06:01 PM
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.
Following a wave of nationalizations carried out by the late President Hugo Chavez between 2007 and 2012, Venezuela has become the second most frequent respondent to investment treaty arbitration in the world (38 cases in total), after Argentina.