Venezuela's Economy: Difference between revisions
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<b><center>Bolivarian Republic of Venezuela</center></b> | <b><center>Bolivarian Republic of Venezuela</center></b> | ||
<center>[[Image:Large_flag_of_venezuela.gif|thumb|Description]]</center> | <center>[[Image:Large_flag_of_venezuela.gif|thumb|Description]]</center> | ||
In the past six years, Venezuela has gone from one of the worst economies in Latin America to the fourth largest, only surpassed by Mexico, Argentina, and Chile. Since President Hugo Chavez took over in 1999, Venezuela has used revenues from its state-owned oil industry, Petroleos de Venezuela, to become the fastest growing economy in the Western Hemisphere and one of the most influencial governement in Latin America. The petroleum sector accounts for nearly a third of the countries GDP and almost 80% of its net export earnings. | |||
Revision as of 00:39, 1 May 2006
In the past six years, Venezuela has gone from one of the worst economies in Latin America to the fourth largest, only surpassed by Mexico, Argentina, and Chile. Since President Hugo Chavez took over in 1999, Venezuela has used revenues from its state-owned oil industry, Petroleos de Venezuela, to become the fastest growing economy in the Western Hemisphere and one of the most influencial governement in Latin America. The petroleum sector accounts for nearly a third of the countries GDP and almost 80% of its net export earnings.
