Reply #11: Actually it is pretty much on fire

[Flanker]

After growing nearly 18 percent last year, the Venezuelan economy has expanded 9.3 percent for the first half of this year - the fastest economic growth in the hemisphere. Although the government's detractors like to say this is just a result of high oil prices, it is not so simple.



http://www.cepr.net/columns/weisbrot/2005_11_01.htm

Most of the growth came from non-oil sectors.