End of preview - This article contains approximately 1343 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
Back
Andean Group - November 2008 (ISSN 1741-4466)
Fiscal questions
On 15 October the government of President Hugo Chávez released its
2009 Budget. With global oil prices down from record earlier peaks, Venezuela
looks vulnerable. The combination of weaker oil prices on the one hand and very
high inflation (and an overvalued exchange rate) on the other, could put the
fiscal squeeze on Venezuela next year, with some analysts suggesting that a
long-due devaluation may be on the cards in order to boost the local value of
oil revenues and shore up the budget position next year. However, the Chávez
government has plenty of cash floating around in off-budget discretionary funds
and these might yet come in handy.
- Ecuador's "transition" raises doubts
- Government triumphant after congress approves referendum law
- Bolivia kicks out DEA
- ECONOMIC OVERVIEW
- García leans to the left with new PM
- García courts Brazil
- MINING: Tacna takes umbrage
- ECONOMIC OVERVIEW
- Uribe faces challenges beyond the Farc
- Colombia's spying scandal
- ECONOMIC OVERVIEW
- All to play for in municipal elections
- Fiscal questions
- ECONOMIC OVERVIEW
- Venezuela launches 'socialist' satellite
- ECONOMIC OVERVIEW