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Some 850 Venezuelans join
government payroll each day

El Universal [Caracas, Venezuela], by VÍCTOR SALMERÓN

Original Article

Posted By:PageTurner, 12/17/2012 2:07:18 PM

Imbalance in Venezuela´s public accounts is tremendous. The gap between the public income and spending stands at 15% of gross domestic product (GDP). Therefore, it is above the level reported by some symbolic countries facing the European crisis, such as Greece (10%) and Ireland (13.4%). High oil prices and tax collection have failed to meet skyrocketing public spending, including the growing number of pensioners and civil servants, the allocation of US dollars at a low foreign exchange rate, and subsidized food, gasoline, and public utilities.

Comments:
Hugo´s fiscal stewardship. Coming to a country near you.

      


Post Reply  

Reply 1 - Posted by: 4Justice, 12/17/2012 5:09:01 PM     (No. 9071459)

So who is the taxpayer paying for those government jobs? He must work an awful lot!!!

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Reply 2 - Posted by: JHHolliday, 12/17/2012 5:14:11 PM     (No. 9071468)

Sounds like the US under Obama.

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Reply 3 - Posted by: KimoSaavy, 12/17/2012 10:17:58 PM     (No. 9071825)

They voted for chavez and deserve what they gonna get. Hello, all Cubans are government employee (property, slaves, wards) and all are equally destitude. Soon coming your way Carcacas.

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