Venezuela's economy expanded 5.6% in 2012

Feb 27, 2013, 2:01 PM EST
A man walks in front of poster of Venezuelan President Hugo Chavez outside military hospital where is being treated in Caracas February 25, 2013

The Venezuelan Central Bank said the economy exceeded its economic forecasts for the Andean country, as gross domestic product expanded 5.5% in the October through December period from a year earlier. The end-of-year data elevated the 2012 economic expansion to 5.6%, up from 4.2% in 2011. Veneziela's economic recuperation is possiible amid a high inflation, which ended the year at 20.1%.  It's possible that the economy contracts this year after the government devaluated the bolivar 32% on February 13.