Central bank reports Venezuelan economy shrinking

VENEZUELA - Venezuela's economy contracted 9.9 percent in the second quarter compared with a year earlier, as a slide in its vital oil production eroded growth, according to the central bank.

The petroleum sector of the world's fifth largest oil exporter shrank 16.7 percent during the second quarter in terms of gross domestic product and its non-petroleum sector contracted 6.5 percent compared with a year before.

For the first half of the year, Venezuela's economy contracted 7.1 percent compare

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