The government of Nicolas Maduro is counting on Venezuelan oil revenues, both from exports and taxes, to cover a significant part of its expenses next year (2024).
The Venezuelan government expects a 27% increase in its income from the National Oil Company “petrolius de Venezuela” (PDVSA) in 2024, after the easing of US sanctions.
The suspension of sanctions, which is scheduled to last until April 2024 unless the United States backs down, has led to an increase in Venezuelan oil prices.
Analysts expect the income to lead to more social spending, as the government tries to secure support in the presidential elections, as President Nicolas Maduro is expected to run again.
The suspension of sanctions, which is scheduled to last until April 2024 unless the United States backs down, has led to an increase in Venezuelan oil prices.
Analysts expect the income to lead to more social spending, as the government tries to secure support in the presidential elections, as President Nicolas Maduro is expected to run again.
