Published November 20, 2014
Venezuela's planning minister says the South American country's economy grew 5.6 percent during the first three months of 2012.
Jorge Giordani says the economy could grow by as much as 7 percent this year.
Giordani says this year's economic expansion was largely driven by 29.6 percent growth in construction as the government of President Hugo Chavez funneled billions of dollars into a nationwide initiative to build hundreds of thousands of apartments for the poor.
Venezuela's economy rebounded and grew about 4 percent in 2011.
Giordani said Thursday high public spending will help spur the growth of Venezuela's privately owned industries.
https://www.foxnews.com/world/venezuela-economy-could-grow-as-much-as-7-percent