Updated on
Summary Venezuela posted 5.4 percent economic growth in the second quarter of this year.
Venezuelan President Hugo Chavezs government has set a goal of 6 percent economic growth for next year and says it aims to hold inflation to less than 16 percent.The goals are included in a government budget proposal that was submitted to lawmakers on Tuesday.Annual inflation last month stood at 18 percent. Planning and Finance Minister Jorge Giordani said in a speech to theNational Assembly that the government projects inflation in 2013 to be between 14 percent and 16 percent.The governments proposed budget includes more than $92 billion in spending. Thats a 33 percent increase from the congressional approved 2012 budget, which totaled about $68 billion.
