EL UNIVERSAL
CARACAS, Wednesday September 01, 2010 | Update
Venezuela's public deficit at USD 4.88 billion in five months
Revenues stood at USD 13.13 billion whereas ordinary expenses amounted to USD 18.14 billion
Government spending increased by 25 percent in nominal terms (File photo)
Economy
By the end of the first quarter, Venezuelan authorities began to accelerate public spending, and government disbursements exceeded ordinary revenues.
According to the monthly bulletin issued by the Central Bank of Venezuela, in a 5-month period Venezuela's fiscal deficit amounted to USD 4.88 billion.
Between January and May, ordinary revenues stood at USD 13.13 billion, whereas ordinary expenditures amounted to USD 18.14 billion, which led to a fiscal gap.
During the period, government spending increased by 25 percent in nominal terms, as the government began to speed up the execution of the budget, which was restrained in the first quarter.
Mayela Armas H.
EL UNIVERSAL
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