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Commodities Briefing - Categorized | Market Moves, Market Pulse, Oil, People more

Venezuela to slash spending as oil prices fall

Posted on 18 February 2009

From AP: President Hugo Chavez’s government will slash public spending to confront the falling price of oil, a top official said Tuesday.

Venezuela relies on oil for 94 percent of exports and nearly half the government budget. Finance Minister Ali Rodriguez said the government has enough savings to avoid serious problems this year but nevertheless plans cutbacks….. Full Article: Source


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