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
"Cocoa is to Venezuelans what wine is to the French," says Alejandro Prosperi, head of the Venezuelan Chamber of Cocoa, using this simile to express the paramount importance or the cocoa industry for the country. Often times heralded as "the best cocoa in the world," a passion for quality dating back to the sixteenth century has made Venezuelan cocoa growers to enjoy high prestige at international level and their product to be among the most sought-after in the world.