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WB: GDP decline is partly due to crumbling private activity in Venezuela
Johnson! Stop the presses!Venezuela's GDP fall in 2009 and the negative projections for 2010 are due to a collapse of private activity in the country, said on Wednesday Augusto de la Torre, the World Bank chief economist for Latin America and the Caribbean. Less private economic activity equals a lower GDP. Could someone please explain that to Bambi, Pelosi and Reid? Venezuela's Gross Domestic Product (GDP) will fall more than 2 percent in 2010, according to the World Bank in a research paper on the region, AFP reported. "We are witnessing in Venezuela a phenomenon in which private activity, productivity, businesses, private production are falling," De la Torre told a group of journalists. In its Country and Regional Perspective report published on Wednesday, the International Monetary Fund (IMF) estimated that Venezuela's GDP would fall 2.6 percent this year. Posted by: Steve White 2010-04-22 |
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