September 2012
Venezuela's Economic Recovery: Is it Sustainable?
President Hugo Chavez in Caracas, Venezuela
This paper looks at the available economic data to see if Venezuela's economic recovery could be sustained, or even accelerated. Venezuela's growth is generally described as unsustainable, with various negative scenarios put forth, including spiraling debt, inflation and balance of payments crises. However, these pessimistic forecasts have been far off the mark for most of the past decade. The authors find that Venezuela's economic growth is sustainable and could continue at the current pace or higher for many years.
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Mark Weisbrot, Jake Johnston
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