Venezuela 2005 Budget Sees Deficit Narrowing on Oil, New Taxes

bemildred

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Thu Oct-14-04 12:32 PM
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Venezuela 2005 Budget Sees Deficit Narrowing on Oil, New Taxes

Four paragraphs, go read it.

Oct. 14 (Bloomberg) -- Venezuela's fiscal deficit will narrow next year as high oil prices and new taxes boost government revenue, Deputy Ricardo Sanguino said.

Sanguino, vice president of the National Assembly's Finance Commission, said in a telephone interview that the deficit will narrow but gave no figures. The budget forecasts a 34 percent jump in spending to 66.8 trillion bolivars ($35 billion) from the 49.9 trillion initially approved for this year's budget.

Bloomberg

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Carolab

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Thu Oct-14-04 12:46 PM
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1. Woo hoo

Let's move to Caracas

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(1000+ posts) Send PM | Profile | Ignore

Thu Oct-14-04 12:59 PM
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2. Maybe the US should nationalize the oil industry so that we can narrow

our deficit? Then we could invest in our future.

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denverbill

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Thu Oct-14-04 01:05 PM
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3. Odd. They based their budget on $23/barrel oil.

It's $53/barrel right now. That's sure as hell a low-ball estimate.

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bemildred

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Thu Oct-14-04 01:15 PM
Response to Reply #3

4. Venezuelan oil is "heavy" and therefore "cheap". nt

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