Venezuelan government debt estimated at 30% of GDP in 2015
Forty-nine percent of the FY2014 Indebtedness Law has been executed
EL UNIVERSAL
Friday November 21, 2014 03:22 PM
The Ministry of Economy and Finance estimated that including the expected indebtedness for next year, the total government debt would represent 30% of Gross Domestic Product (GDP).
The Finance Committee of the National Assembly reviewed the FY2015 Indebtedness Law. The head of the National Office of Public Credit, Beatriz Bolívar, noted that by the end of next fiscal year "the debt ratio would stand at 27%-30% of GDP."
Authorities would not break down the current balance of government debt, which amounted to USD 127.7 billion in the first half.
Bolívar reported that out of the planned debt issuances for this year, amounting to VEB 105 billion (USD 16.66 billion), VEB 51.4 billion (USD 8.15 billion), 49% of total, has been placed.
Translated by Andreína Trujillo
The Finance Committee of the National Assembly reviewed the FY2015 Indebtedness Law. The head of the National Office of Public Credit, Beatriz Bolívar, noted that by the end of next fiscal year "the debt ratio would stand at 27%-30% of GDP."
Authorities would not break down the current balance of government debt, which amounted to USD 127.7 billion in the first half.
Bolívar reported that out of the planned debt issuances for this year, amounting to VEB 105 billion (USD 16.66 billion), VEB 51.4 billion (USD 8.15 billion), 49% of total, has been placed.
Translated by Andreína Trujillo
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