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Venezuela's domestic debt increases by 74 percent

Meanwhile, the foreign debt amounted to USD 35.1 billion

The Venezuelan government tried to close the oil income gap with new debts (File photo)

Economy
Following the decline in oil prices during the first quarter of 2009, the Venezuelan government had to adjust the budget and bridge the gap of oil income by issuing debt.

The issue of new bonds swelled the public debt. According to the Ministry of Planning and Finance, Venezuela's domestic debt increased by 74 percent in 2009 to VEB 53.1 billion (USD 12.35 billion), while in 2008 it amounted to USD 30.5 billion (USD 7.09 billion).

According to data published by the Ministry of Finance, Venezuela's external debt increased by 17 percent. Last year, it amounted to USD 35.1 billion while in 2008 it reached USD 29.8 billion.

The issue of new bonds has increased future payments of debt. In fact, between 2010 and 2012, the maturities of domestic debt will amount to VEB 24 billion (USD 5.58 billion).

Mayela Armas H.
EL UNIVERSAL

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