National President: Inflation is at its lowest levels in 25 years

Published at: 02/12/2024 08:05 PM

The president of the Bolivarian Republic of Venezuela, Nicolás Maduro, assured that hyperinflation has been defeated and inflation is at its lowest levels in the last 25 years despite the attempted coup against the exchange rate system and the warming of the economy.

He added that the country's Gross Domestic Product (GDP) during the first three quarters of this year grew by 8.5%, thus completing 14 quarters of sustained economic growth with its own efforts.

“We have an economic model subject to sanctions, blockade, aggression, persecution, with political sectors trying to wage internal war and with one or the other crazy person still talking about economic war, but even so, we have managed, thanks to planned and strategic efforts, to build a new Venezuelan economic model, our own,” he said this Monday, December 2.

In this regard, the Head of State pointed out that this year the agriculture sector has grown 6.2%, the manufacturing sector 4.6%, trade 6.2%, mining 21%, construction 25.9%, oil activity 14%, sustained with its own revenues and technology, the industrial sector grew 18% in the operation of the industry in 2019 and today the Venezuelan industrial park is 45% operational.

He added that last Sunday there was a 42% increase in sales in the country on so-called Black Friday, while the growth of spending per Venezuelan household from January to September increased by 13%, which gives reason for the current sustained trade.

He specified that Venezuelan businessmen recognize advances in economic matters through surveys carried out within them.

” 65% say that they improved in the year and 74% say that their company will be better in 2025 (...) In relation to tax collection, it consolidated at 120%,” he said.

Mazo News Team