Social Investment, Priority in Venezuelan Budget for Next Year

On Wednesday, the Executive Vice President of the Republic Delcy Rodríguez presented the plan before the National Assembly and said that 77.1 percent of it will be allocated to social investment to finance social programs aimed at serving the most vulnerable populations. 

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Rodríguez said that in 2023, the budget must serve to revitalize the economy. In this sense, the Vice-President said the Government aims to promote national production and guarantee markets for the production of the Communal Councils, entrepreneurs and other agents through public procurement policies.  

Most of the funds will be used to recover capacities in the attention to the population, to strengthen food production, procurement and distribution, to strengthen the Housing Great Mission, the public education system, the health system and social security, said Rodriguez. 

The diplomat brought up the negative impact on the Venezuelan economy of the blockade and unilateral coercive measures experienced by the country in recent years. Rodriguez said that within this context, Venezuela is looking to promote social investment. 

Budget 2023. To grow with equity, with balance, with social justice. To grow with better income, welfare and social protection for the people. This is the path laid out by Chávez and led by Nicolas Maduro. 

Rodriguez asked for the support of the legislative body to approve the bill, which will be debated by the deputies until tomorrow. The Vice Minister said that more than 10 thousand organizations participated in its drafting. 

According to the Minister of Economy and Planning, 88 percent of the proposed budget comes from current revenues, while 12 percent comes from public credit.