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laurentius
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Helsinki, Finland
Jun 2001
time: 07:23
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These are the figures I saw
quote:
The Economist country profile: Venezuela
2000 2001 2002 2003
GDP per head ($ at PPP) 5,948 6,161 5,610 5,100
GDP (% real change pa) 3.24 2.79 -8.88 - 9.20
Government consumption (% of GDP) 7.23 8.59 8.06 8.90
Budget balance (% of GDP) -1.65 -4.41 -4.80 -5.80
Consumer prices (% change pa; av) 16.21 12.53 22.43 31.10
Public debt (% of GDP)* 27.01 30.41 38.35 38.60
Labour costs per hour (USD) 3.22 3.44 2.45 2.11
Recorded unemployment (%)** 13.90 13.30 15.90 21.00
Current-account balance/GDP 9.98 1.63 7.80 11.30
Foreign-exchange reserves (mUS$) 13,089 9,239 8,487 16,035
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So it seems that Oerdins figure of -9.2 % real GDP change is correct but from 2003. I dont think that is just because some of the mistakes Chavez has made, its got much more complex reasons.
Now Chavez or his team might not be your ideal people in charge of national economy but many of Venezuelas problems are not self inflicted. For a country that has had 1 coup attempt, 1 major natural disaster(mudslide), couple of major strikes, deep social and political divisions with each side afraid of another. It would be a miracle if Venezuelas economics hadent took a blow. Also I dont think looking at conventional economic data in this case isnt very constructive. Chavez is using very unconventional means to redistrubute wealth to the more poor people. He has hundreds of social projects going on in the slums that so far show only as an expense in the budget. The projects include medical assistance and training of local doctors by cubans, free "evening schools" for illiterate children as well as adults, study circles etc. Then theres the land reform. We will see hoe it turns out.
I find it encouraging and fascianating that a latin america leader tries something completely new and radical to help his own people. This time its not done with stalinist or right-wing doctrines but in quite pragmatic way. I'm hopeful that these measures help to educate the Venezuelan people and give them a chance to move to the next level in life. The investors neither in Venezuela or abroad are not seeing this opportunity though. The private media and power elite in many coutries are afraid by the unpredictable stunts Chavez does every once a while. Because of that and the fact that he is Castros friend gives him enormous amounts of negative publicity. Much of it is strongly biased against him.
Last edited by laurentius on 21-02-2005 at 21:55
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chegitz guevara
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Ft. Lauderdale, FL Communist Party of Apolyton
Jun 2000
time: 00:23
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Some things to consider. The country suffered from two years of sharp recession in 2002-2003. According to this article (which I'm sure some will dismiss as being biased), the poverty rate was at 80%. This is not unexpected, recessions hurt people. However, poverty shrank apporximately 13% in 2004, from 80% to 70% (10% is 13% of 80%).
Also consider that while money may not be going directly to the poor in the form of money, the government has created "missions" in poor areas which dispense medical aid and subsidized food, which means that while they are poor, they are not as bad off as before. The government is also turning over government owned land to the poor, so all in all, it's better to be poor in Venezuela today than it was ten years ago.
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Apolyton Time is 00:23. |
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21-02-2005 21:45
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