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| Caribbean-Latin America |
| WB: GDP decline is partly due to crumbling private activity in Venezuela |
| 2010-04-22 |
| 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 |
| #2 They should try a good stiff VAT tax. I hear that could help. |
| Posted by: bigjim-CA 2010-04-22 20:36 |
| #1 Chavez & Obama approve. After all, people should not be so independent - it's government's job to provide for the people. |
| Posted by: gromky 2010-04-22 01:23 |