Overview of recent economic developments -- An update on the banking system -- Reform of the severance payments system -- Poverty, inequality, and social expenditure -- Recent developments in trade policy
Summary
This paper reviews economic developments in Venezuela during 1995-97. The overall public sector balance shifted from a deficit of 7 percent of GDP in 1995 to a surplus of 7 1/4 percent of GDP in 1996. This massive swing was owing to a major increase in the underlying oil surplus, a decline in the non-oil underlying deficit, and the fact that virtually no financial assistance was provided to the banking system, compared with the cumulative 16 1/2 percent of GDP provided in 1994-95 in the context of the banking crisis
Bibliography
Includes bibliographical references
Notes
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