Structural poverty down 10 pct in Venezuela

[Judi Lynn]

Structural poverty down 10 pct in Venezuela
Oct 26,2013

CARACAS, Oct. 25 (Xinhua) -- Structural poverty in Venezuela has fallen from 16.7 percent to 6.9 percent, thanks to the more equitable distribution of wealth, the national statistics chief said Friday.

During an interview with state-run Venezolana de Television (VTV), Elias Eljuri, president of the National Statistics Institute (INE), listed a variety of economic measures implemented by the country's socialist government over the past 14 years, saying together they have helped reduce poverty.

Meanwhile, social spending has increased from 36 percent to 62.5 percent, which helps improve the livelihood of most Venezuelans, he said.

On Venezuela's current inflation woes, the INE chief noted that one of the factors behind the rise in prices was higher wages.

More:
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=175967

[Socialistlemur]

1. Given the current inflation rate and food shortages poverty is increasing

Mr El Juri is a liar. Right ow the purchasing power of the poor is dropping in real terms due to the extremely high inflation rate. Salaries don't keep up with inflation. It's not even close.

[spanza]

2. Lies and more lies... xinhua's source: Venezuelan ruling party

I really like this one by super partial PSUV militant Eljuri:

"It's logical that if you raise wages, you raise inflation"

Suuuure Elias, but we should only talk about real wages, not nominal, especially in a context of 40-50% inflation. But again worshipers will worship...