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Andean Group - March 2011 (ISSN 1741-4466)

ECONOMY: All about oil

The jump in oil prices, prompted by the unrest in North Africa and now in the Persian Gulf, will help President Hugo Chávez and the economy to start growing again this year. The government is not forecasting a spectacular recovery: the central bank president, Nelson Merentes, confines himself to saying that real GDP will grow by more than the 2% forecast in the budget for 2011.

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