In Venezuela, the national budget for 2026 has increased fivefold compared to the budget established for the current year. According to information provided by Executive Vice President Delcy Rodríguez, the figure is 5.02 trillion bolivars.

Rodríguez presented the figure to the National Assembly during the first week of December, highlighting that 77.8 % of the resources will be allocated to social investment.

The official also addressed the budget formulation process, explaining that it included popular participation “through community assemblies, which, according to her, aims to ensure that national priorities are linked to the needs of the population.”

In total, the 2026 budget is equivalent to 5,968,785,870 bolivars, representing “a significant increase compared to the 2025 budget, which was 906,459 million bolivars. In nominal terms, public spending has more than quintupled in just one year.”

Social development and community outreach are priorities for next year, as is the defense and security of Venezuela.

M.Pino

Source: finanzasdigital

(Reference image source: engin akyurt on Unsplash)

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La entrada Venezuela increases national budget for 2026 apareció primero en Bitfinance.

The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, considered it incorrect to increase public spending to deal with inflation, for which she invited countries to take measures to support the most vulnerable, in order to prevent the fiscal fuels the rise in prices.

“Fiscal policy has to provide a cushion for the most vulnerable. The risk is whenever there is pressure to do more for everyone and this pressure has to be resisted because, if we go down a very generous path of support (…) then fiscal policy becomes the enemy of monetary policy and makes the fight against inflation much more difficult”, Georgieva said.

The European official added, in this sense, that for those countries with fiscal space, giving this specific support “is easy”, while in those where this room for maneuver does not exist “it is incredibly difficult because the only way in which political tax is reprioritizing spending”.

The message comes at a time when the governments of the eurozone accelerated the adoption of public aid and tax cuts to cushion the impact of companies and families with a record inflation of 9.1 % in August, motivated by the increase in energy prices exacerbated by the Russian war in Ukraine, which has spread to the rest of the shopping basket.

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With information from Doblellave

La entrada The IMF calls for no increase in public spending apareció primero en Bitfinance.

Inflation in Venezuela registered an increase of 17.3 % in August compared to the previous month, which represents the highest price variation in the last 12 months, according to data published by the Venezuelan Finance Observatory.

With the August data, the year-on-year price variation climbed to 153 %, while in the accumulated figure for the year it already registers 90 %.

The agency explained that the acceleration of inflation during August has to do with the expansion of public spending and the increase in monetary liquidity by 15 %, which have led to the exchange rate being devalued by 36 % during said period. month.

The Observatory suggests the possibility of greater price increases for the following months to the extent that prices absorb the full effect of the devaluation.

On its side, the value of the food basket in August stood at 371 dollars, 21.66 % more than the previous year and 5.23 % less than in July 2022. In relation to the average minimum wage of 16 dollars in August, it represents a significant drop in wages compared to the cost of the food basket. In fact, the minimum wage barely covers 4.3 % of the value of the basket.

The items that registered the greatest increases were Clothing and Footwear (23.9 %), Recreation (23.6 %), Alcoholic beverages and tobacco (22.7 %) and food 15.6 %.

K. Tovar

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Source: Infobae

La entrada August inflation in Venezuela was 17.3 % apareció primero en Bitfinance.