VHeadline News Editor Patrick J. O'Donoghue reports: According to National Statistics Institute (INE) president, Elias Eljuri, poverty in Venezuela closed 2009 at 24.2%. Extreme poverty dropped 6%.

The figures represent a quadruple reduction compared to figures for 2002 translating into 55% and 25% respectively.

Eljuri attributed the results to the President Chavez' social investments ... $330 of 535 billion went to health, education, social security and housing. 75% of oil income has been spent on social matters, especially after royalties in Orinoco oil field shot up from 1 to 30%.

Among other successes, the statistician pointed to unemployment which, he confirms, stands at 6%.

The informal economy is no longer dominant standing at 43%. Formerly, it registered at 53% and over.

According to the Gini index that measures economic inequalities from 0 to 1, Venezuela registered 0.42% ... the Latin American average is 0.52% making Venezuela's tally the lowest on the continent.

By the way, 4 million students at the Bolivarian schools are getting 2 meals a day at school, along with a snack.

Patrick J. O'Donoghue
news.editor@vheadline.com