‘Overestimated’ income in the budget pro forma that arrived in the Legislature

Last Friday, the presidential office delivered the 2017 budget proforma – amounting to $ 36,818.12 million – to the Legislature maintaining a budget deficit of 4.7% of the Gross Domestic Product (GDP). The budget would have been elaborated based on an overestimation of revenues, say several analysts.

The Budget 2017 states that the country will have revenues of $ 23,546.5 million. The amount includes the taxes that until December would reach $ 14,760 million and the oil revenues that would reach $ 3.274 million.

Director of the Observatory of Fiscal Policy (OPF) Jaime Carrera considered that the pro forma is not viable.

According to the analyst, there are many gaps in the oil issue, because it is not explained how there would be revenues of $ 3.242 million. As for taxes, he thinks that a maximum of $ 13.7 billion would be reached. (I)