CARACAS (Reuters)

Venezuela’s economy grew over 9% in 2024, as stated by President Nicolas Maduro in an interview transcript published by Mexican media outlet La Jornada on Wednesday.

“In 2023, we had 5.5% growth. In 2024, according to all scientific, statistical, and technical data, we will surpass 9% growth in gross domestic product, with a very high level of growth in the real economy, as well as in the hydrocarbons sector,” Maduro told Spanish journalist Ignacio Ramonet.

Venezuela’s economy has faced a prolonged crisis in recent years marked by triple-digit inflation and the exodus of millions of Venezuelans seeking better opportunities elsewhere.

In 2019, the government loosened controls on the private sector, leading to an informal dollarization that provided crucial support to key sectors of the economy.

However, analysts believe this strategy has not been sufficient for a full economic recovery.

The interview with Maduro is set to air on Venezuelan state television on Wednesday evening.