Venezuela's economy expanded 5.6% in 2012

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.