ESPACIO PUBLICITARIO
CARACAS, Wednesday August 15, 2012 | Update
 
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FINANCE

2012 Venezuela's budget expense exceeds last year total amount

Deputies have approved credits for USD 20 billion

The 2012 budget spending has reached USD 89.7 billion (File photo)
EL UNIVERSAL
Wednesday August 15, 2012  12:38 PM
The Venezuelan National Assembly authorized on Tuesday USD 768 million for additional credits. Consequently, the extraordinary operations approved during the year increase to USD 20 billion.

With this additional expense, 2012 annual budget, which started at USD 69.3 billion, is already at USD 89.6 billion.

In fact, the execution of the budget exceeds the 2011 total expense that was USD 86.6 billion, according to data issued by the Ministry of Finance.

Such a growth is because of the need to meet the increasing requirements of government agencies to cover their operating expenses and labor commitments.
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