75.2% of the national budget for 2019, set at 1.5 trillion sovereign bolivars, is destined for social investment, said the president of the Economic Commission of the National Constituent Assembly (ANC), Andrés Eloy Méndez.
As part of the social protection policy implemented by the National Government, the budget contemplates the goal of reaching 5 million pensioners by the Venezuelan Institute of Social Security (IVSS):
“Five million pensioners are expected to be included in the annual budget for next year. We will keep the statistics of inclusion”, he said during the ordinary session of the ANC, where the Budget Law of Fiscal Year 2019 was discussed.
In addition to this, “the six million families protected by the Homeland Bonds will be maintained, as well as the distribution system of the Local Supply and Protection Committees (CLAP) and to strengthen it”, he said.
He stressed that the 2019 budget – which will have approximately 1.5 billion sovereign bolivars (724 billion for oil activity, 304 billion for SENIAT tax revenues and 500 billion through international public credit) – will protect 7.6 million students of the public education system (initial, basic and diversified) for the upcoming year.
“In 2018 we opened 300,000 places in public schools for those who left the private schools”, added the constituent.
Likewise, Méndez pointed out that the resources for oil production were calculated based on a daily oil production of 2 million barrels in 2019. As well as a cost of a hydrocarbon barrel between 55 and 60 dollars:
“We believe it is convenient to resort to the refinancing and reprogramming of our debt for an amount of 276 billion bolivars”, he said.
The constituent stressed that the new budget does not include large infrastructure works, but the maintenance of existing ones.
He indicated that about 20,000 brigadeers will be activated with the support of communal councils to expand or rehabilitate 500 works throughout the national territory: “We are going to an economy of maintenance of our works”, he said.
In addition, a new recovery phase of 1,800 public transport units will be executed.
