Experts say Venezuelan economic activity grew 12.3% in first half of year

Various national and international economic analysts expect Venezuela to grow between 5 and 10 percent annually in 2022.

The Venezuelan Financial Observatory, a body of independent economic experts, said Monday that Venezuela's economic activity grew by 12.3 percent in the first half of the year compared to the same period in 2021.

A report released today by the said body stated that the main cause of Venezuelan economic growth is an increase in oil production, increased spending by the Venezuelan government, and the end of hyperinflation.

The Observatory pointed out that economic activity increased by 16.6 percent in the second quarter of this year.

The agency clarifies that this is modest growth considering Venezuela's . . .

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