Venezuela's deficit estimated at USD 11.40 billion
Additional revenues are partly offsetting financial imbalances
The report on the economic and financial impact of the reform of Law on Special Contribution for Windfall and Exorbitant Oil Prices reveals that the central Government faces a gap between income and expenditure early this year of USD 11.40 billion.
It is highlighted that the additional funds resulting from the change in the distribution of the oil windfall tax will be partially oriented to reduce the deficit.
The report produced by the Venezuelan National Assembly is based on the figures provided by the oil industry. The document shows that the tax reform guarantees some USD 2.24 billion to the Treasury -"an amount that allows reducing part of the deficit and avoiding the need to take on new debts."
Translated by Jhean Cabrera
That political protest in Venezuela has lost momentum seems pretty obvious: people are no longer building barricades to block off streets near Plaza Francia in Altamira (eastern Caracas), an anti-government stronghold; no new images have been shown of brave and dashing protesters with bandanna-covered faces clashing with the National Guard in San Cristóbal, in the western state of Táchira; and those who dreamed of a horde of "Gochos" (Tachirans) descending in an avalanche to stir up revolt in Caracas have been left with no option but to wake up to reality.