Venezuela: Recent Economic Developments
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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.
Series:
Country Report No. 1998/117
Subject:
Banking Commercial banks Economic sectors Financial institutions Imports Inflation International trade Labor Public sector Tariffs Taxes
English
Publication Date:
November 4, 1998
ISBN/ISSN:
9781451840087/1934-7685
Stock No:
1VENEA0011998
Pages:
102
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