Credit Suisse said that Venezuelan oil production experienced a year-on-year growth of 40% between January and April of this year. File photo.
This Tuesday, June 7, the Swiss investment bank Credit Suisse, in a new report, reiterated its forecast that the Venezuelan economy will grow by 20% this year alone, as a result of increases in oil production and tax revenues.
Credit Suisse estimated that oil production experienced a year-on-year growth of 40% between January and April of this year. They also pointed out that tax revenues were able to increase by 125% in the first five months of the year.
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El presidente @LassoGuillermo ofreciĂł que no seriamos como Venezuela y lo cumpliĂł. ProducciĂłn petrolera en Venezuela crecerá en 40 % y las exportaciones en 50 %; los salarios crecerán en 85 %; y la economĂa CRECERA en 20 %. Lo dice una agencia chavista? NO. Lo dice Credit Suisse pic.twitter.com/oxqQxWDk0Q
— Diego Borja Cornejo (@DiegoBorjaPC) June 7, 2022
“Today I received the economic bulletin, which they call the Economic Intelligence Bulletin,” Venezuela’s President Maduro said recently, as reported by Ăšltimas Noticias. “Important news: Venezuela has experienced growth in the first quarter of 2022 above two digits. It is encouraging news because the economic indicators … are all showing improvement.”
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The improvement in the stability of the currency exchange system, the slowdown in inflation, and the increase in bank credit are tangible signs of economic recovery, even in the midst of the criminal blockade imposed by Washington and the European Union.
Although they do not agree on the precise numbers, financial entities and other organizations specialized in the subject predict sizeable growth in the Venezuelan economy for 2022. Some, like Credit Suisse, continue to place these estimates comfortably within the double-digit range.
Translation: Orinoco Tribune
OT/JRE/SL/EF
