Venezuela's proposed 2016 government
budget foresees the maintenance of the OPEC nation's strongest official
exchange rate of 6.3 bolivars per dollar despite speculation of a devaluation
after December parliamentary elections. The budget document, seen by Reuters,
also forecast annual inflation of 60 percent. That would likely be less than
this year's inflation which President Nicolas Maduro has predicted at 80
percent but most economists expect to surpass three digits. Earlier, presenting
the proposed budget to parliament, Finance Minister Rodolfo Marco said it was
based on an estimate of $40 per barrel of oil for Venezuela's exports. More…
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