Venezuela Sees 27% More Income From PDVSA: Reuters

Venezuela’s government foresees a 27% increase in its income from state-run oil company PDVSA next year, Reuters reports, citing a document it has seen.

• President Maduro’s administration estimates that total spending next year will be equivalent to $20.5b, according to an unpublished 2024 budget proposal
• The budget, which would mark a 39% increase on 2023 spending, will be debated in the ruling party-allied legislature and is likely to be approved
• Income from oil exports and taxes paid by PDVSA would cover 58% of total government spending, equivalent to some $11.9b, according to the document
  • PDVSA’s contributions this year were ...