Venezuela Allocates 78% of the 2025 Budget to Social Investment
Venezuelan VP Delcy Rodriguez, Dec. 3, 2024. Photo: Venezuelan News
December 3, 2024 Hour: 11:41 am
The budget project comes amid favorable expectations for the Venezuelan economy
On Tuesday, Venezuelan Vice President Delcy Rodriguez presented the 2025 Economic and Financial Budget Bill to the National Assembly (AN). The proposed budget amounts to $22.6 billion, with 77.7% of this total allocated to social investment.
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“As we have stated and reaffirmed previously, this law was not drafted in an office. It was not prepared by the Ministry of Finance’s planning department. This is a law created with the people’s input. Over 100,000 assemblies defined the essential guidelines for formulating policies aimed at addressing the needs of Venezuelans,” the Bolivarian vice president stated.
The 2025 Economic and Financial Budget Bill also includes an expanded budget allocation for the Guayana Esequiba territory and incorporates a special portfolio for projects based on community circuits.
“This will ensure that projects originating directly from the needs of the people, who are organized into communes and communal councils, are included in next year’s budget,” Rodriguez affirmed, highlighting that the budget proposal comes amid favorable expectations for her country’s economy.
On Monday, President Nicolas Maduro confirmed that the Venezuelan economy grew by 8.5% in the first three quarters of this year, marking 14 consecutive quarters of economic growth.
During the same period, agriculture grew by 6.2%, manufacturing by 4.6%, commerce by 6.2%, mining by 21%, construction by 25.9%, and the oil sector by 14%.
“These are positive developments for an economic model that has faced sanctions, blockades, and aggressions,” the Bolivarian leader emphasized, noting that some opposition politicians continue to wage an “internal war” against the Venezuelan nation.
teleSUR/ JF Sources: Venezuelan News – EFE
