Abstract: This report examines the key sectors in the Venezuelan economy and appraises both its strong and weak sources. The report also contains an assessment of the prospective financial resources and financial needs of the country. Within this framework, the mission recommends investment priorities and development policies, providing the basis for a four-year coordinated investment program, and a plan for financing its execution. The mission examines the outlook for petroleum, Venezuela's dominant economic asset, and concludes that, although earnings from this source will probably continue to expand for some time, the rate of growth in such earnings could well slow down. The Government should continue to encourage further growth in the petroleum sector, but, in view of the uncertainties, the mission believes it would be wise policy to lessen the country's dependence on this single asset. They also feel that efforts should be made to achieve a measure of economic diversification.
Publication Year: 1961
Publication Date: 1961-01-01
Language: en
Type: article
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