Official: Venezuela’s economy to grow between 5 percent and 6 percent in 2006 | VailDaily.com
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Official: Venezuela’s economy to grow between 5 percent and 6 percent in 2006

CARACAS, Venezuela – Venezuela’s economy will grow between 5 percent and 6 percent in 2006, compared with this year, the president of Venezuela’s central bank said Friday.Gaston Parra Luzardo told the state-run Bolivarian News Agency that “all the areas of the economy will grow: construction, manufacturing, tourism, services and others.”Last year, Venezuela’s economy grew 17.4 percent. Government officials expect the economy to grow approximately 10 percent this year.Economic growth in Venezuela, the world’s fifth-largest oil exporter, has been sustained by high petroleum prices in international markets.Oil exports provide about one third of Venezuela’s gross domestic product, roughly 80 percent of export earnings and about 40 percent of all government income.Venezuela’s unemployment rate fell to 11.4 percent in October, down 2.3 percentage points compared with the same month last year.The jobless rate stood at 15.5 percent at the start of this year.


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