USD 2.24 billion for Venezuela's Treasury Office upon oil tax reform
Government expenditure is expected to soar amid additional income
Based on the economic and financial report of the tax reform, produced by the National Assembly, the Government will receive additional USD 2.24 billion due to the move.
The estimate surpasses that of Pdvsa, which calculated additional income for the Treasury at USD 318.08 million.
The approved reform will allow the Executive Office to keep up the spending pace reported in 2012.
Analysts are confident that the higher the income, the higher the expenditures. Apparently, there is no chance of cutting expenditure. Back in January, spending jumped 67% as against a year earlier.
Likewise, the volume of extraordinary operations in 45 days accounted for USD 1.46 billion. In other words, the official budget that began at USD 62.9 billion in 2013 is now at USD 64.5 billion.
Translated by Jhean Cabrera
María Fernanda Astudillo is a store analyst for Alimentos Polar working at the company's facilities in La Yaguara. At only 23 years of age, she has made a career in that company where she has worked for the last six years. Now, besides her responsibilities, which include overseeing shipping/receiving and warehousing of goods, she is taking part in the roundtable discussions among the other companies operating in the La Yaguara industrial park, the Government and the workers exploring possible ways of coping with the order to expropriate the land.