Venezuela's budget surplus in 2012 at USD 9.06 billion
The surplus is enough to cover additional credits in 2013
One of such sources is the budget surplus (USD 9.06 billion) of 2012, which are budget funds that were not executed.
In general terms, any surplus is deposited in different parallel funds administered by the Treasury Office. Funds are allocated based on the additional operations that may be necessary.
Since early January, the Executive Office began using such resources. Unlike other periods, early in 2013, the government increased expenditure and took on additional credits financed via parallel funds.
To date, the National Assembly has approved some USD 1.17 billion, and this figure may grow upon this week's additional operations.
Translated by Jhean Cabrera
A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.