Venezuela: Recent Economic Developments

November 4, 1998

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Venezuela: Recent Economic Developments, (USA: International Monetary Fund, 1998) accessed November 23, 2024

Summary

This paper reviews economic developments in Venezuela during 1995–97. The overall public sector balance shifted from a deficit of 7 percent of GDP in 1995 to a surplus of 7¼ percent of GDP in 1996. This massive swing was owing to a major increase in the underlying oil surplus, a decline in the non-oil underlying deficit, and the fact that virtually no financial assistance was provided to the banking system, compared with the cumulative 16½ percent of GDP provided in 1994–95 in the context of the banking crisis.

Subject: Banking, Commercial banks, Economic sectors, Financial institutions, Imports, Inflation, International trade, Labor, Public sector, Tariffs, Taxes

Keywords: Banking system, Broad money, Central America, Central bank, Central government, Commercial banks, CR, Exchange rate, Free trade, Imports, ISCR, Monthly salary, Private sector, Public sector, Tariffs, U.S. dollar

Publication Details

Pages:

102
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1998/117
Stock No:

1VENEA0011998
ISBN:

9781451840087
ISSN:

1934-7685

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