(ABN) - "The Gross Domestic Product (GDP) of Venezuela have grown during the last three years and a half at an average of 12.6%, the Minister of Planning and Development, Jorge Giordiani, explained.

Giordani indicated that the current growth rate exceeds the GDP growth registered in the 50s and the 70s.

'Since 50 years ago, Venezuelan economy had not grown like this. The most relevant of this registered growth is that it is a sustained process. The numbers of the first 2007 trimester demonstrate it: last three months the GDP growth is 8%', Giordani assured.

He said that the Venezuelan GDP growth comes after critical moments for the economic history of the country, 'like the undercapitalization and disinvestment suffered by the country in the whole 80s as a result of the neo-liberal model'.

Likewise, Giordani explained that in order to analyze and interpret those results, it is needed to remit to the registers of 50 years ago, when the Venezuelan economy had an stability that lost during the next 40 years.

'We have not only exceeded the average of that historic moment of the country, but also we have left behind the numbers of the fourth republic', the Minister assured.

Moreover, he pointed out that comparing the growth of the country with other nations of the region, Venezuela keeps showing a significant increase, which makes the country the one with bigger growth in Latin America in the last years.

'For example, Argentine economy have had a significant progressive growth, one of the more stables of Latin America, right now they can be around US$ 250 billion', he indicated.

Giordani held that registered variations in the Venezuelan economy are due to external agents, which are not related with the economic policy proposed by the President of the Republic, Hugo Chávez Frías.

'We had a relapse during 2003, but it is a direct, notable, and perfectly awarded consequence to the Venezuelan oil industry sabotage in 2002. That is not Government fault, the historic debt of all those people responsible for country loses at that moment is huge', he added.

Furthermore, Giordani stated that are the numbers and the real results of the streets, which end for destroy theories like the economic rebound.

'We can not even consider anymore the economic rebound like the responsible of the growth and stability that Venezuelan economy is leading. We are in front a moment where we have a high, sustained, and generalized growing, because it has been extended to diverse areas of the everyday productive event', he commented.

He reminded that Venezuelan economy is on a continuous journey of growing during the last 14 trimesters where the investment has grown in about 27%. 'The result of this has been the increasing of the Venezuelan consumption', he emphasized".