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 group of some 60 Venezuelan economists from across the country and from different generations and backgrounds, has met regularly in the past couple of years and now has brought forth a document explaining the reasons of the current emergency and outlining specific proposals on how to address the serious economic crisis the country has plunged into over the last three years.