Venezuela is an Attractive Destination for Foreign Investment: President Maduro
President Nicolas Maduro (L) holds a nationally produced shoe, Sept. 9, 2024. Photo: https://t.me/NicolasMaduroMoros
September 10, 2024 Hour: 9:57 am
IMF’s growth estimates for Venezuelan GDP have been surpassed by the powerful economy we are building, he said.
On Monday, Venezuelan President Nicolas Maduro emphasized that his country is achieving significant economic progress despite U.S. sanctions against the Bolivarian revolution.
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“Important U.S. investors are already working in our country. To them, I say that we guarantee their investments and will continue to work together, regardless of the political debate and the statements from the White House or the State Department,” he said during the TV program “With Maduro +.”
Maduro stated that Venezuela’s inflation rate at the end of 2024 will be the lowest in the past 18 years, thanks to a new model of endogenous growth being built in consensus with the entire society. “We wouldn’t have been able to achieve food self-sufficiency without listening to all the producers and workers. Correct public policies are built with popular power and in dialogue with society,” he stressed.
“The growth estimates for Venezuelan production made by the International Monetary Fund (IMF) and the Economic Commission for Latin America and the Caribbean (ECLAC) have been surpassed by the powerful economic apparatus we are building,” Maduro pointed out.
In this regard, he recalled that the IMF had estimated that the gross domestic product (GDP) would increase by 4 percent in the first half of 2024, but the final result was an 8.7 percent increase. This allows for the projection that Venezuela’s GDP will experience growth greater than 10 percent by the end of the year. This forecast is supported by another figure: investment increased by 16 percent in the first half of 2024.
“All of this means that we will continue growing, as there is a virtuous cycle of growth, wealth generation, and reinvestment,” the Venezuelan president explained, adding that U.S. sanctions, aggressions, and threats test countries, which is why people “either submit and allow themselves to be colonized, or they react, look to the future, and liberate themselves.”
Maduro emphasized that the construction of a new exchange rate system, which is overcoming the hyperinflation induced by the economic war, is the result of an economic plan that is yielding results.
teleSUR/ JF Source: VTV