This Wednesday, the plenary session of the National Assembly approved, in a special session, the bills on the Financial Economic Year 2025, and the one corresponding to the Special Annual Debt Law for the Financial Economic Year 2025.
The first of the projects was presented by the deputy and president of the Permanent Finance Commission of the National Assembly, Jesús Farías, who began his intervention by stating that “this is the budget for the victory of the Venezuelan people against imperialism and fascism. Without that victory, Venezuela would be in chaos,” he said.
Likewise, he highlighted that this law concentrates all its efforts on the development and prosperity of the country, on the independence and increasingly solid participation of the people, both in the design of the budget and in its execution.
He stated that the aforementioned project is a very important instrument, from which the country’s economic policies are planned, according to a philosophy, in this case of socialism, from which “development is driven.”
He stressed that the deepest roots of this budget are the Plan of the Homeland, the development of productive forces, social justice, sovereignty, and independence, in a scenario full of aggression by the extreme right, and imperialism by different ways, such as the economic blockade.
He assured that because of the blockade, the country stopped receiving more than 200 billion dollars in the last seven years, however, despite this, Venezuela will be one of the countries with the greatest economic growth at the end of the year.
Farías stressed that today Venezuela defeats the blockade, and macroeconomic values are stabilized, among other things due to political stability and the country’s vigorous democracy.
He reiterated that the large social investment contemplated in the new budget is only made in a socialist Government, where efficiency and the fight against bureaucratism and corruption will be guaranteed through Popular Power.
Finally, he stressed that in the country there will never again be a budget formulated by the International Monetary Fund.
From the draft Special Debt Law
Subsequently, it was up to the deputy and member of the Permanent Commission of Economy, Finance and National Development of the AN, Ramón Lobo, to make his presentation on the draft Special Law on Annual Indebtedness for the 2025 Financial Year.
During his speech before the plenary session, Lobo explained that the aforementioned project contemplates the approval of up to 20 billion bolivars “for fiscal management”, and for “debt service an estimated 60 billion bolivars.”
He assured that these resources will be allocated “to the different efforts, programs and plans that the national Executive has to strengthen productive capacities and the provision of services.”
Representative Ramón Lobo
The legislator explained that “32% of these resources go to electricity, 21% to transportation, and 11% to the Ministry of Water.”
He explained that on the issue of water, “structuring projects are being proposed to improve the massive drinking water system, but also environmental sanitation.”
Likewise, he indicated that “when we talk about electrical energy projects we talk about Termozulia in its second and third phase, when we talk about Tocoma – Manuel Piar Hydroelectric Power Plant, in the state of Bolívar – we talk about spaces for energy generation, but “We also talk about resources for the transmission of that energy.”
He assured that the execution of this project will have a positive impact on the quality of life of the Venezuelan people and the advancement of the country’s economy despite the attacks from the extreme right.
Finally, he highlighted that next year “will be a year of prosperity for all the Venezuelan people” and then delivered the aforementioned project to the president of the AN, Jorge Rodríguez.
