CARACAS: Venezuela's economy should grow between 3.5 and 4.0 percent in 2011, then accelerate further next year, President Hugo Chavez said on Saturday.
The South American OPEC member nation's government originally forecast 2 percent growth this year, but higher oil prices and heavy state spending have boosted the economy.
Venezuela was the last country in the region to pull out of recession after two years of shrinking GDP in 2009 and 2010.
"This year, we estimate that growth will be between 3.5 and 4.O percent ... and next year it should be above this," Chavez said during a Cabinet meeting shown on live TV.
Some of Chavez's officials have estimated growth could be as high as 5 percent this year. The socialist leader is seeking re-election in an October 2012 presidential vote.
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