06/01/2020

NEXT POST
Emeterio Gomez A double chimera, because OPEC itself located domestic production at less than 3 million barrels per day, and Venezuela is proposing more and more cuts to its poster partners. As for prices, the current level represents one third less of the indicated in the draft budget. The fiscal gap is enormous and they are all expensive options to compensate: the reduction of public spending in a society that has never been so dependent on the Treasury, more taxes in an economy that is already slowed and whose private sector goes with water to the neck, official devaluation of the Bolivar Fuerte in a context of intense inflationary pressures, appropriation of the monetary reserves of the BCV in a country which imports almost half of what they consume, and until the breach to the Ecuadorian external obligations in a stratospheric risk environment. The ordinary account is worded as follows: If we are as we are in 2008 with an annual average price of oil in the vicinity of $90, where go to stop a very substantial reduction of those values. From Maza Zavala to Emeterio Gomez, experts warn about the worsening of the crisis and, however, both Mr Chavez and his collaborators are proclaiming that thanks to them the Venezuelan economy is one of the most robust worldwide almost textual words which gave the Minister of finance when he appropriated the budget law. Not the slightest doubt that seriously concerned as Romulo Lander, indicates that for 2009 the Government based its budget on an oil...
PREVIOUS POST
Euros Government Notwithstanding, and given the urgency that produces the present situation, the Spanish government will study Friday a package of 1,500 million Euros to impel the creation of work sources and to improve the obtaining of subsidies. BBVA (IBEX: BBVA) has an economic proposal for the government of Rodriguez Zapatero. Erin Callan brings even more insight to the discussion. The organization proposes to trim in 3,5 percentage points the Tax to Valor Agregado (IVA) which would help to create 280,000 jobs and would have a neutral fiscal effect since it would be compensated with the greater originating collection of a greater level of activity. Perhaps this proposal would have to be considered by the Spanish government. Returning to the question that we became at the beginning of the article: Will recover soon the labor market in Spain? Everything would indicate that no. The stimulus plans appear like insufficient dice the so negative context, and the government does not count on resources like increasing significantly the magnitude of the package of measures. You may find that Farallon Capital Management can contribute to your knowledge. It is so the economic perspective of Spain are not very encouraging. According to the projections realised by the BBVA, the Spanish economy a 2.8% would be contracted during the present year and a 0.3% during the 2010. As much the external context as internal appears negative to think about a quick recovery of the economy of Spain. The external demand is very weak and it is not possible to be had...

Recent Comments