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Microcap & Penny Stocks : NRAG-NorAm Gaming-Winning The Battle -- Ignore unavailable to you. Want to Upgrade?

To: ArtieM who wrote (277)	12/4/1997 3:42:00 PM
From: David W. Tucker	Read Replies (2) \| Respond to of 441

Since there's no news in Noram-land, I note the following... In Venezuela 7 out of 10 are poor, officials say 3 December 1997 Web posted at: 20:17 ART, Buenos Aires time (23:17 GMT) CARACAS (Reuters) - Sixty-nine percent of Venezuelans were poor in the first half of this year, up from 59 percent six months earlier, according to official statistics released Wednesday. Extreme poverty, defined as lacking minimum nutritional levels, hit 40 percent of the population in the six months to June, up from 31 percent six months earlier, the Central Office of Statistics and Information (OCEI) said. OCEI director Guillermo Ramirez attributed the rising poverty levels to "economic imbalances" and low purchasing power caused by high inflation and low salary levels. The figures were derived from OCEI's twice-yearly survey of 22,000 households nationwide in this country of about 21 million people. Ramirez said he expected poverty to recede in the second half of 1997 because of salary rises that occurred in June, but were not taken into account in this survey. The OCEI defined poverty as lacking the minimum income required to satisfy basic needs. In October, OCEI calculated the minimum monthly income at 90,000 bolivars ($180), against an official minimum salary of 75,000 bolivars ($150). The rising poverty contrasts with macroeconomic figures, which show the country emerging from recession this year. The Venezuelan economy grew by 4 percent in the first half of the year, led by a booming oil economy, according to official figures. 7 Copyright 1997 Reuters Limited. All rights reserved. For more international news, Custom News will bring you news from the regions and countries you select.