ESPACIO PUBLICITARIO
CARACAS, Wednesday December 26, 2012 | Update
 
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FINANCE | Decree signed by Chávez on December 9

Venezuela's vice-president bestowed economic decision-making capacity

The decree authorizes the executive vice-president to rule in the economic arena

The vice-president may pass decrees concerning expropriations (File photo)
EL UNIVERSAL
Wednesday December 26, 2012  01:13 PM

In compliance with Official Gazette 40,077, issued on December 21, upon Venezuelan President Hugo Chávez's consent, Executive Vice-President Nicolás Maduro is entitled to take actions in the economic arena.

As set out in decree 9,315, signed on December 9 and published in the gazette, Maduro may approve additional credits to the budget, with prior authorization from the National Assembly, and pass decrees for the transfer of funds from the budget to ministries. He is also authorized to approve operations for public loans.

The Venezuelan vice-president may also order expropriations or compulsory acquisition prior authorization from the president.  
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Those USD 500 million

As Venezuelan deposits of public funds in Swiss bank accounts have been revealed, opposition Deputy Andrés Velásquez wonders whatever happened to the USD 500 million worth of CVG funds that turned up in coded bank accounts in Lebanon five years ago.

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