Tuesday, April 15, 2008

At least some places aren't drowning in red ink 

The final budget numbers for the Venezuelan government for 2007 were just released and in spite of all the non-sense one often hears about the government running a deficit it in fact - unsurprisingly - ran a surplus.

Total income was 141.33 billion BsF or about $65 billion dollars. Total expenditures were $126.46 billion BsF leaving a surplus of 14.87 billion BsF, or almost $7 billion dollars.

That comes to about 3% of Venezuela's GDP.

Maybe our friends in the United States congress can take a trip down to Venezuela, visit the Venezuelan National Assembly, and take notes on how to stay within a budget.

Somehow I don't think that is likely though.


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