This Wednesday, the Central Bank of Venezuela (BCV) formally presented its Draft Budget for Revenue and Operating Expenses for the 2027 fiscal year.
The document was delivered to the Second Vice President of the Legislative Branch, Deputy Grecia Colmenares (PSUV/Táchira), by the BCV’s Second Vice President, Edwin Carrasquero; the institution’s Vice President of Administration, Rocco Albisinni; and the Finance Manager, Tomás Martínez.
The formal submission of this document to the Legislative Branch is a legal requirement for estimating the resources needed by the central bank to ensure the stability of the country’s monetary and financial system throughout the upcoming fiscal cycle.
According to the parliamentary body’s established procedures, the detailed presentation of the draft budget will be handled by the Standing Committee on Economy, Finance, and National Development, which will evaluate the allocation of operating funds proposed by the issuing body.
In this sense, the budget proposal for 2027 focuses its strategic priorities on maintaining the institution’s ongoing operations and covering its current expenses. It also includes the allocation of resources for economic modernization programs, the integral coverage of social security for the workforce, investment in capital assets, and the establishment of a technical reserve for budgetary adjustments.
According to information released by the Parliament, the technical debate regarding the proposal will use the financial execution of the previous period as a comparative baseline.
As a technical reference for parliamentary debate, the assessment of the new proposal will take into account performance during the previous fiscal year—a period in which the Legislative Branch approved an overall budget of 114,248,464,817.91 bolivars for the issuing institution, against an estimated operating revenue of 35,786,974,194.58 bolivars. This budget was structured strategically, allocating 38% to current expenditures, 30.7% to strategic expenditures and economic modernization, 18.16% to social security, 11.40% to capital investments, and 1.96% to adjustment provisions.
Following the completion of the formal submission protocol by the authorities of the Central Bank of Venezuela (BCV), the plenary of the National Assembly will subject the draft legislation to the required readings, review, and technical deliberation within the relevant committee, with a view toward its final approval during an ordinary session.