Maduro affirms that Venezuela is headed for growth and economic diversification

The president of Venezuela, Nicolás Maduro, affirmed that his country is heading for growth and diversification of its economy, which aims to become a productive nation.

“Our efforts are aimed at economic growth and diversification. All for a productive and prosperous country that meets the needs of families. No one stops Venezuela!” Maduro said through his Twitter account.

Read also: Check out our coverage on Venezuela

In August, Maduro assured that his country produces 80% of the food it consumes, when previously it imported 90% of it.

In the first quarter of the year, the growth of the economy was 17.4%, according to the Central Bank of Venezuela (BCV). In addition, the main banking entity in the country projected a growth of 18.7% for the second quarter of 2022.

The estimates of international organizations on the economic growth of Venezuela for this year range from five to 20%. 2021 was the first year of economic growth since the so-called war of “North American imperialism” began, according to Maduro.

However, after four years, Venezuela managed to get out of hyperinflation in 2021; this, after spending 12 months with inflation below 50%, according to the BCV.

More than 900 coercive measures weigh on Venezuela, which led to a 99% reduction in its income, as reported by the Government.

With information from Sputnik