The first year of Maduronomics
(A short post for a busy day) 2013 will likely be the first year of the Nicolás Maduro economy. What can we expect?
The Venezuelan Central Bank – which, mind you, is not independent as in other countries – predicts the economy will grow by a whopping 6% in 2013. But others beg to differ.
The World Bank thinks it’s going to be a measly 1.8%.
The UN predicts it will be a squalid 2.5%.
The IMF, ever the optimists, predicted in October that Venezuela would grow by a majunche 3.3% in 2013.
One has to wonder what the geniuses at the Central Bank are seeing that the World Bank, the UN, and the IMF are failing to see. One thing is for sure: whatever happens, they will take the credit if it’s good, and blame someone else if it is not.
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