Venezuelan economy grew 9.3% in first quarter, central bank says

2/5/2025 7:23

Venezuela's economy grew 9.3% year-over-year in the first quarter of 2025, the country's central bank said on Thursday, a slight uptick in the growth rate compared to 9.1% reported in the same quarter a year ago.



Analysts warn the economy's performance over the rest of the year could be hit by intensified U.S. sanctions, which Venezuela's government says are responsible for economic hardships. The sanctions include a May 27 deadline for foreign partners of state oil company PDVSA to cease operations and new

tariffs on oil and gas sales.



In a statement on Thursday, the central bank also reported a 18.23% rise in Venezuela's oil activity in the January-to-March period from a year ago.