HomeEconomyVice President: private sector has transacted more than $8.000 million

Vice President: private sector has transacted more than $8.000 million

Delcy Rodríguez pointed out that the most stable currency price in 13 years is currently recorded

So far in 2024, according to data from the Central Bank of Venezuela, in the market where the private sector participates, more than 8 billion dollars have already been traded, almost the equivalent of what was traded in the entire year 2022. .

This was reported by Vice President Delcy Rodríguez in the International Economic Development Seminar, which takes place at the Teresa Carreño Theater.

He said that in 2023 the volume of foreign exchange traded in the market by private parties was 14 million dollars, so this figure will also be exceeded this year.

real economy

“It is a real economy, which is developing and which is defeating the desire for this country to surrender to the criminal blockade,” he said, commenting that the most stable currency price in 13 years is currently recorded.

He stated that in the last five years the country has recovered macroeconomic balance, there is 97% supply, and in the month of May the lowest inflation in 20 years was recorded.

In this regard, it compared the annualized inflation of May 2024, located at 59%, and compared it with that of February 2019, when it registered 344.000%. “That is amazing and reflects the determination of Venezuela, which in national unity longs for the normalization of its economic life.”

He pointed out that diversifying the economy is essential, and in this sense, he mentioned the sectors that are growing, such as food production, agribusiness and fishing, which have allowed the development of the export engine for the entry of foreign currency into the country.

He referred to the Gross Domestic Product (GDP), which increased by 7% in the first quarter of 2024, a figure higher than that projected by the International Monetary Fund and the Economic Commission for Latin America and the Caribbean (ECLAC).

“The growth of the first quarter of 2024, ECLAC and the Monetary Fund projected that Venezuela will grow 4% this year. Already in the first quarter, our GDP growth figure is 7%, and we know that it will be even higher,” Rodríguez explained.

“We are days away from saying that there are 12 consecutive quarters of growth,” he said.

Rodríguez thanked those attending the forum for their participation, and predicted that soon Venezuela will be a power to strengthen shared development and cooperation with the countries of the world.

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