Skip to main content

View Diary: Venezuela is in a bad spot and no you can't blame it all on the CIA ok (75 comments)

Comment Preferences

  •  The World Bank states poor Venezuelans are (0+ / 0-)

    better off. Of course the wealthy wish to retain their wealth and position within society and are not happy with the nationalization of oil and banking. The Caracas protests have been limited to mostly upscale areas

    The World Bank - Venezuela Overview

    Venezuela has achieved high rates of economic growth (5.6% in 2012). Nevertheless, GDP growth declined to just 1.6% in the first half of 2013 with respect to the same period of 2012. Short-term growth forecasts are modest.

    Among the most important programs that oil revenues have helped fund are the large social programs called Misiones. Economic growth and the redistribution of resources associated with these Misiones have reduced moderate poverty significantly, from 50% in 1998 to 25% in 2012. Inequality has also declined, as evidenced by the Gini Index, which fell from 0.49 in 1998 to 0.39 in 2011, one of the lowest rates in the region.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site