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Economy / Venezuela

Fiscal Pump Priming Likely To Misfire

January 2010 | Economic Analysis

BMI View: The devaluation of the bolivar will bring a substantial boost to the fiscal accounts in 2010, helping Chávez to keep the taps open ahead of September's legislative elections. However, state largesse will only score political points if attention can be diverted from a highly probable acceleration in inflation, and the longer term issue of diversifying revenues streams will likely remain unaddressed.

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