Caracas, Oct 16. ABN.- The diverse financial funds created by the Bolivarian Government have solidified Venezuelan economy, as part of the sovereign and independence policies carried out by this Administration.
The statements were made on Thursday by the President of the Bolivarian Republic of Venezuela, Hugo Chávez Frías, during a ministers' council at the Miraflores Presidential Palace.
“We have been really careful, very responsible on resources administration, on calculations and budget execution. In 2007, we drafted the national budget based on 35 dollars per oil barrel, it was estimated that could be at 50 dollars and exceeded that number by far due to the jump made by oil prices,” he said.
“We did not go crazy with that oil prices jump. We have saved, we have created a set of strategic funds, and we have in there billions of dollars, which we use but rationally,” he commented.
President Chávez informed that, so far, Venezuela counts with reserves of about 40 billion dollars, which is a number that doubles what the country would need, so it is in a proper level.
Moreover, he mentioned among the strategic funds the National Development Fund (Fonden, Spanish acronym), where there are more than 30 billion dollars. “With that amount we have 70 billion dollars,” he added.
“In addition, we have the sudden fund, which is the result of the law that establishes the payment of a special contribution by sudden oil profit and we have been saving that money in a fund. We have about 4 billion dollars in it,” he informed.
Regarding the fund created between the People's Republic of China and Venezuela, President Chávez said that the country has about 12 billion dollars, “which place us close to 100 billion dollars,” he concluded. |
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