Saturday, December 09, 2006

CHAVEZ RUNNING VENEZUELA INTO THE GROUND

Here’s what Chavez’ Socialist revolution has to show for itself. Barely a dent taken out of poverty, GREATER dependency on foreign banks and governments, MASSIVE economic contraction. Adjusting for their rate of inflation, the economy is half the size it was 8 years ago, effectively making even those he’s “helping” poorer than they were a decade ago.

- In 1998 GDP was $185 billion (£93 billion); in 2006 it is $162 billion
- Inflation: 38 per cent (1998); 16 per cent (2006)
- Proportion in poverty: 44 per cent (1998); 34 per cent (2006)
- External debt: $27 billion (1998); $34 billion (2006)

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