Forecasts: a growth over 6% for Venezuela in 2008

As a result of the economic measures carried out by the Bolivarian Government, the economic growth expected in Venezuela in 2008 could be over six per cent, according to the Minister of the People's Power for Finance, Francisco Isea.

In an interview offered to the program En Confianza, broadcast by the state-run television channel Venezolana de Televisión (VTV), Minister Isea stated that country's economy in 2008 could be over 6 per cent, “due to the correct economic policies and strategies carried out in order to achieve a full country's economic stability”.

Isea mentioned that the goal is to obtain at least a six per cent of economic growth, however, this number could be beat, because the economic policies carried out regarding the national production and the oil incomes augur a better performance of the national finances.

Nevertheless, Minister Isea warned that in order to concrete these numbers, the elements that cause inflation have to be nipped in the bud.

“We have carried out, from government, some measures to attack the elements we think are affecting the inflation rates that we had in January”, Isea said.

“The inflation issue is a major significance matter for the national government. Inflation, as we all know, is mainly the reflect of the products' price increase, most of all those basic needs items for Venezuelan population”, he added.

Moreover, Isea stressed that the inflation rates are in great part a responsibility of big businessmen that refuse to collaborate with national production and they aim their negotiations in capitalistic measures that only benefit them.

Likewise, Isea assured that the national government is working on the inflation goal proposed of about 11% and he emphasized that the inflation issue will be solved.

“We are going to work on the inflation matter and we are sure that we are going to see very positive results for the country”, he pointed out.

Isea added that it is important to keep the cooperation with the Venezuelan Central Bank and the rest of the governmental organs responsible of the country's economy, in order to achieve a better economic performance of the nation.

“We have a strong economy, an economy that has grown not in an artificial way, but in a real one”, he said.

The Minister of Finance guaranteed that Venezuela “is one of the few worldwide cases with this behavior and this year will not be an exception”.