Oil wealth boosts Venezuela consumer spending
Consumers in Venezuela increased credit spending by more than 100 percent in 2006, the Associated Press reports.
Debt spending, which includes credit cards and auto loans, increased 101 percent to $5.3 billion as of the end of November, meaning spending will have doubled even before the busy month of December.
Venezuelan National Assembly Finance Commission president Rodrigo Cabezas also said Wednesday that the country's economic growth will top 10 percent in 2006, which he said will be 'the highest rate in Latin America.'
The economic growth is being spurred by Venezuela's oil boom, the report said.
Oil wealth boosts Venezuela consumer spending
