Venezuelan economy 'moving up'
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Venezuela will become the Latin American country with the highest gross domestic product (GDP) per capita this year, according to a new study.
In addition, the country will replace Argentina as the region's third-largest economy, according to Latin Business Chronicle's analysis of data from the International Monetary Fund (IMF).
It further states that Venezuela's GDP per capita is estimated to reach $11,933 (£6,085) this year.
The business website reports that IMF estimates show Venezuela's GDP is set to reach $334.7 billion (£170.8 billion) in 2008, while the figure for Argentina is predicted to be $323.8 billion (£165.1 billion).
Meanwhile, Venezuela's president Hugo Chavez said in a speech earlier this month that he expects Venezuela to earn $75 billion (£38.2 billion) in oil revenue this year, Thomson News has reported.
The news organisation reports that the country is the world's fifth-largest exporter of oil and has the largest energy reserves on the continent.
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