January
22, 2004
Fitch projects Venezuelan
growth of 6%
(Dow Jones Newswire ) - "Fitch Ratings,
the international rating agency, projects Venezuela's
economic growth of 6% or more this year (…)
Furthermore, this year's growth
'will primarily reflect the statistical comparison
against a depression in the first half of 2003
(…)', according to
Morgan Harting, a director at Fitch Ratings.
Fitch Ratings expects public sector
financing needs to exceed 9% of GDP, most of which
should be sourced domestically. Fitch's 'B-' long-term
sovereign rating on Venezuela balances a comparatively
modest
public external debt burden and strong external
liquidity (…).
Additionally the ratings take
into account: 'the medium-term objective of sustainable
economic growth and diminished dependence on petroleum'".
