Photo: Venezuela's Economy
Venezuelan Finance Minister Jorge Giordani said that unemployment stood at 5.9% in December of 2012, the country’s lowest rate since 1999. He pointed to strong economic growth last year of 5.2% and predicted more growth in 2013.
“It’s the lowest in recent years,” Giordani said in a speech at the Bank of Venezuela. “In Venezuela, we need an even more prepared workforce through increased education, strengthening health and the housing program.”
The minister projected that the Venezuelan economy is expected to grow around six percent this year, driven by social and productive investment by the government, which he said will contribute $500 billion dollars to strengthening the economy over the next six years.
“Nobody denies that Venezuela will grow in 2013, not the World Bank nor the Economic Commission for Latin America and the Caribbean (ECLAC), or the International Monetary Fund (IMF). The discussion is about how much,” said Giordani.
He said the World Bank projects 1.8% growth, ECLAC projects 2% growth, and the IMF expects 3.2%.