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Venezuela economy grows 4.5 percent in 1st quarter

Venezuela economy grows 4.5 percent in 1st quarter

Venezuelan officials say the country's economy has expanded 4.5 percent in the first quarter, confirming strong growth after nearly two years of recession.
Venezuelan Central Bank president Nelson Merentes says growth in the public and private sectors contributed to the recovery, even as the key oil industry contracted 1.8 percent.
The rapid expansion came after the last quarter of 2010 showed Venezuela had barely emerged from recession, with 0.6 percent growth.
The jump in the first quarter was a sharp change from the 4.8 percent decline seen by the Venezuelan economy during the first quarter last year.
Merentes said Tuesday that the public sector grew 3.3 percent, while the private sector grew 4.6 percent.


Updated : 2021-05-07 22:12 GMT+08:00