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Venezuela eyes measures to revive slowed economy

Venezuela eyes measures to revive slowed economy

Venezuela says it plans stimulus measures to confront the country's first economic contraction in five years.
Finance Minister Ali Rodriguez says the government will increase spending on construction projects and other areas.
He says the government may also boost income by raising subsidized gasoline prices _ which are now the world's cheapest at $0.12 a gallon ($0.03 a liter).
Venezuela reported last week that its economy contracted 2.4 percent in the second quarter amid depressed world oil prices, down from 7.1 percent growth a year earlier.
Rodriguez also said late Monday that inflation is easing and could close the year at 26 percent.


Updated : 2021-02-25 16:14 GMT+08:00