CARACAS (Reuters) -Venezuela’s economy grew over 9% in 2024, President Nicolas Maduro said, according to a transcript of an interview published by Mexican media outlet La Jornada on Wednesday.

“In 2023, we had 5.5% (growth). In 2024, according to all scientific, statistical, and technical data, we will surpass 9% growth in gross domestic product, with a very high level of growth in the real economy, as well as in the hydrocarbons sector,” Maduro told Spanish journalist Ignacio Ramonet.

Venezuela’s economy in recent years has experienced a prolonged crisis marked by triple-digit inflation and the exodus of millions of Venezuelans seeking better opportunities elsewhere.

In 2019, the government loosened controls on the private sector, allowing for an informal dollarization, which provided a lifeline to key sectors of the economy.

However, analysts believe the strategy has not been sufficient for a full economic recovery.

The interview with Maduro is set to air on Venezuelan state television on Wednesday evening.