Poverty Reduction in Venezuela: A Reality-Based View
Venezuela has seen a remarkable reduction in poverty since the first quarter of 2003. In the ensuing four years, from 2003 to 2007, the poverty rate was cut in half, from 54 percent of households to 27.5 percent. (See Table 1). This is measured from the first half of 2003 to the first half of 2007. As can be seen in the table, the poverty rate rose very slightly by one percentage point in the second half of 2007, most likely due to rising …
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