Venezuela GDP to grow at least 8 percent

Venezuela's economy will grow "no less than" 8 percent in 2007, Finance Minister Rodrigo Cabezas said in a televised interview on Tuesday. "The estimates that the national government has is that the Venezuelan economy will grow no less than 8 percent ... this year," Cabezas said.
He said unemployment would close out the year below 7 percent and that the Opec nation maintains its inflation target of 12 percent for 2007. "We continue our fight against inflation with the certainty that inflation this year will be below that of last year; our goal is 12 percent," he said.
Venezuela's economy grew 8.8 percent in the first quarter of 2007 and 10.3 percent in 2006 as high oil prices and soaring government spending by leftist President Hugo Chavez spurred growth. But inflation remains a nagging concern, with consumer prices rising 17 percent in 2006 and 8.3 percent from January to July this year.