Thread: Thoughts and questions concerning Venezuela
View Single Post
  #33  
Old 03-20-2007, 05:51 PM
tolbiny tolbiny is offline
Senior Member
  
Join Date: Mar 2004
Posts: 7,347
Default Re: Thoughts and questions concerning Venezuela
[ QUOTE ]
That it is mainly oil funded is just a myth, remember that most of the oil revenues are kept away from the running economy.

[/ QUOTE ]

I don't know what you mean by oil revenues being kept away from the running economy. If the numbers I have are correct natural gas + oil exports are worth ~85 billion US$ (at $50 per barrel of oil and $300/ 1000 cu M for natural gas) and the GDP of Norway is around $262 billion dollars. How does that size of a percentage not interact with the running economy?

Minor point: Do you have a link to the 2% UE rate? I have 3.5% for 2006.
Reply With Quote