Venezuela's Central Bank says the economy is showing signs of rebounding from two years of recession. The banks says it's likely the economy grew between 3 percent and 4 percent in the first three months of 2011.
Venezuela's economy contracted 1.4 percent last year and 3.3 percent in 2009.
Central Bank President Nelson Merentes calls the economic performance during the first quarter "better than what was planned."
A Central Bank report Thursday says that if the positive trend continues, Venezuela could see growth of about 4 percent for the whole year.
Inflation remains a problem, however. Venezuela's annual inflation rate of 27.4 percent is the highest in Latin America.
Source: http://www.businessweek.com
Venezuela's economy contracted 1.4 percent last year and 3.3 percent in 2009.
Central Bank President Nelson Merentes calls the economic performance during the first quarter "better than what was planned."
A Central Bank report Thursday says that if the positive trend continues, Venezuela could see growth of about 4 percent for the whole year.
Inflation remains a problem, however. Venezuela's annual inflation rate of 27.4 percent is the highest in Latin America.
Source: http://www.businessweek.com
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